With housing prices falling all over California, some homeowners are seeking relief to lower their property tax bills. If the current market value of your property (recent comparable sales) falls below the assessed or taxable value as shown on your tax bill, the California law requires Assessor's Office is required to lower the assessment. This type of property tax relief generally applies to recently purchased property. There are two periods during the year in which the taxpayer may appeal their assessed value for a temporary reduction:
(1) Between March through May: During this period, the taxpayer may submit a written request to the Assessor, indicating their opinion of value and providing supporting documentation, such as sales of comparable properties or a recent appraisal. The necessary forms are available from you local Assessor's office. The next deadline to apply for this type of relief is May 30.
(2) Between July 2 and November 30: During this period, the taxpayer must file an application form. Appeal forms can be obtained and must be filed with the Assessment Appeals Board at your local Assessor's office.
If a hearing becomes necessary, the testimony of a real estate professional is recommended. For more information on how to appeal the assessed value of your home and reduce your property tax bill, please contact us for a complimentary consultation.
About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.