Under State law, (Proposition 8), if the current market value of your property falls below the assessed or taxable value as shown on your tax bill, the Assessor’s Office is required to temporarily lower the assessment. This type of property tax relief generally applies to more recently purchased properties. If you feel you qualify for this reduction, please file this form with the Assessor’s Office between January 1 and May 30.
For example:
Home assessed value: $850,000
Annual Tax Bill (est. rate 1.3%): $11,050
Savings after filing a successful appeal:
New appealed value: $725,000
New annual tax bill: $9,425
NET SAVINGS in the first year: $1,625
Link to form:
http://arcc.co.san-diego.ca.us/docs/valrev.pdf
If you live in San Diego and need help with comparables, feel free to
email me at sansan2@gmail.com.
My service is complimentary.
No comments:
Post a Comment