Deadline to lower your property tax is coming up!

by elizabetheugenio on July 26, 2009

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With the current decline in property value, the County Tax Assessor allows a reevaluation of your assessed property tax. If your home was not automatically reassessed, you can apply for a reassetsment. July 31 is the deadline.

In 1978, a constitutional amendment was passed that allows a temporary reduction in the assessed value when a property suffers a “decline-in-value.” When the current market value of your property is less than the current assessed value that is considered a decline in value.

It is very simple to file a claim for and does not cost you anything. The form is called ”Proposition 8″ and can be downloaded from your county tax assesor’s website. There are some questions to answer which you can get from your tax bill. You will be asked your opinion of value for your home. If you need the current value for your home, do not hesitate to contact me and I will give you the information free.

There are companies out there sending letters to homeowners and are charging a fee from $99 to $179. There is no advantage nor benefit to hire a company to do this for you. The assessor’s office addresses this issue also.

Here are the links for the different counties:

San Bernardino County- www.sbcounty.gov/assessor/decline.asp

Los Angeles County – http://assessor.lacounty.gov/extranet/guides/prop8.aspx

Riverside County – http://riverside.asrclkrec.com/acr/forms/755P-AS3RS0%20Owners%20Request%20for%20Review.pdf

Elizabeth M. Eugenio

(909) 376-8615

Websites: www.HomesByLiz.com , www.ChinoHillsCARealEstate.com

Certified Distressed Property Expert, Certified Residential Specialist, Graduate Realtor Institute

DRE# 01126934

Article by Elizabeth Eugenio

Since 1991, I have served the residents of Chino Hills and surrounding cities. Providing exceptional customer service has been my top priority earning me referral and repeat business from family, friends, associates and past clients. The advanced training in finance, marketing and technology I received as a Certified Residential Specialist (CRS) designee provides you better representation making the buying and selling process a more profitable and easier experience. Only 4 % of Realtors in the nation has earned this designation. Short Sale and Foreclosure Resource (SFR) is the only designation recognized by the National Association of Realtor for short sale and foreclosures. This designation and the (CDPE) Certified Distressed Property Expert has allows me to better assist you as a buyer on your purchase of these properties and as a homeowner experiencing financial hardship avoid foreclosure. Additionally, the Seniors Real Estate Specialist (SRES) designation has helped me serve the special needs of the 55 years and better population by making the process easier and help keep more of your r money when you move. Contact me for all your real estate needs and you can count on me to provide you better representation and make sure you have an easier and smoother transaction. I can be reached at (909) 376-8615 or at: Elizabeth@HomesByLiz.info.

Elizabeth has written 27 articles on this blog.