Home › Forums › Closed Forums › Properties or Areas › How can we reduce property tax?
- This topic has 7 replies, 7 voices, and was last updated 12 years, 10 months ago by
briansd1.
-
AuthorPosts
-
April 23, 2012 at 11:30 PM #19715April 24, 2012 at 1:39 AM #742064
HLS
ParticipantDid you buy a brand new house OR an older home ?
The taxes are too high according to who ?If you bought an older home:
The current property tax bill is based on the assessed property value in 2011, which had a basis of the previous owners cost + adjustments.The 2011-2012 bill was sent out in October 2011 with the first half due by Dec 2011 and the 2nd half due by April 2012.
Property taxes on that bill cover from July 1st 2011 to June 30th 2012
That is the amount that MUST be paid to the assessor.Through escrow, you would have been charged the old owners property tax based on the number of days that you owned the property after July 1st 2011.
If your basis is lower, you could eventually get a supplemental bill with a credit/refund.Your new property taxes will be based on your purchase price, but it could take the assessor a while to catch up to this.
2012-2013 bills will not be sent out until Sept/Oct
and will probably reflect the value on January 1st 2012, which still could be more than you paid.
This bill will cover the period July 1st 2012-June 30th 2013.1. Exactly what date did you close on the house
2. How much did you pay
3. Is there Mello-Roos on this property
4. How much are the current taxesCall the county assessors office for an explanation of what you can expect in the way of a refund, if any.
April 24, 2012 at 5:58 AM #742066SD Realtor
ParticipantSince escrow has no clue of what the county will assess the home for, your prorated property tax at closing is always whatever the current assessment is. As HLS said, eventually your home will be reassessed and the county you will receive a supplemental tax bill. Once that is completed you can petition for another assessment if you believe the assessment is to high. The process is not hard to do but you will need to gather comps that will backup your argument.
April 24, 2012 at 8:25 AM #742075Coronita
Participant.
April 24, 2012 at 9:30 AM #742084(former)FormerSanDiegan
ParticipantMaybe you can donate to the Tax Assessor.
It seems to work in LA County
http://www.laweekly.com/2012-04-19/news/john-noguez-los-angeles-county-assessor-scandal/
April 24, 2012 at 11:25 AM #742110bearishgurl
Participant[quote=HLS]Did you buy a brand new house OR an older home ?
The taxes are too high according to who ?If you bought an older home:
The current property tax bill is based on the assessed property value in 2011, which had a basis of the previous owners cost + adjustments.The 2011-2012 bill was sent out in October 2011 with the first half due by Dec 2011 and the 2nd half due by April 2012.
Property taxes on that bill cover from July 1st 2011 to June 30th 2012
That is the amount that MUST be paid to the assessor.Through escrow, you would have been charged the old owners property tax based on the number of days that you owned the property after July 1st 2011.
If your basis is lower, you could eventually get a supplemental bill with a credit/refund.Your new property taxes will be based on your purchase price, but it could take the assessor a while to catch up to this.
2012-2013 bills will not be sent out until Sept/Oct
and will probably reflect the value on January 1st 2012, which still could be more than you paid.
This bill will cover the period July 1st 2012-June 30th 2013.1. Exactly what date did you close on the house
2. How much did you pay
3. Is there Mello-Roos on this property
4. How much are the current taxesCall the county assessors office for an explanation of what you can expect in the way of a refund, if any.[/quote]
HLS, thanks for explaining this “new-owner tax-assessor procedure” in laypiggs’ terms. I’ve tried to in the past but you have done a much better job here than I was able to :=]
April 24, 2012 at 11:34 AM #742112bearishgurl
Participant[quote=FormerSanDiegan]Maybe you can donate to the Tax Assessor.
It seems to work in LA County
http://www.laweekly.com/2012-04-19/news/john-noguez-los-angeles-county-assessor-scandal/
[/quote]Absolutely fascinating story (of which I am still in progress of reading/dissecting) but not surprising, FSD! It’s almost akin to the rocks I seem to be turning up in a smallish city in Solano County, CA, which has experienced insolvency problems, lol …..
April 24, 2012 at 12:19 PM #742120briansd1
Guest[quote=FormerSanDiegan]Maybe you can donate to the Tax Assessor.
It seems to work in LA County
http://www.laweekly.com/2012-04-19/news/john-noguez-los-angeles-county-assessor-scandal/
[/quote]
LA is a corrupt place. Chicago has the worse reputation, but LA is up there.
I think that, generally, local government is the most corrupt of all the different levels.
-
AuthorPosts
- The forum ‘Properties or Areas’ is closed to new topics and replies.