We had a couple of representatives from the Assessor’s office come to visit us today. They had quite a few things to say about getting reassessed. Particularly about how they have been doing with this years assessment roll.
“The Assessor has completed the current 2008-09 assessment roll (lien date January 1, 2008) and is in the process of preparing the 2009-10 assessment roll (lien date January 1, 2009). In preparing the 2008-09 assessment roll, the Assessor reviewed over 43,000 residential properties purchased since 2004, to determine if they qualified for a Decline in Value (Prop 8) Assessment. Of the over 43,000 properties reviewed, over 34,000 received reductions in their taxable value.”
They also noted that homeowners who have been reassessed or have received a Prop 8 tax bill, will qualify for an automatic reassessment next year! Assuming prices continue to drop…
If you haven’t been reassessed or you are unsure if you fall under Prop 8, you can apply for a review by filling out the APPLICATION FOR “DECLINE IN VALUE” REVIEW. It’s a very easy, one page, application that you send to the County Assessor’s office. If you need help filling in the report with comparable sales, we will be happy to help!