Property depreciation and Property tax

[svelte]

In the 1990s, the county automatically reduced our prop tax for a few years without us applying – I think they were getting swamped with requests and did it to free up their staff.

I haven’t heard of them doing such a thing again in this downturn, so I should get on with applying for a reduction myself this time.

Thanks for this thread – it is the kick in the rear I needed.

[Chance the Gardener]

Here’s a link to a letter to county assessors from the state board of equalization regarding the definition of fair market value:
http://www.boe.ca.gov/proptaxes/pdf/89_06.pdf

Basically, as long as you have completed a change in ownership statement (usually done by escrow company – included in your closing documents – must be filed with deed by closing agent otherwise there is an additional fee) you are entitled to a rebuttable presumption that the purchase price in an arms-length transaction is the fair market value. The assessor seems to think he can rebut this presumption with comparable property values. We’ll see how my appeal goes (purchase price $625K, base year assessment $725k).

It is very important that when you receive your first tax bill showing your new assessment, that you file for your appeal. You only have 90 days and then you’re stuck with that base year assessment. Unlike getting your assessment adjusted year-to-year under Prop. 8, your base year assessment sticks with you the entire time you own the property. This is your only chance to fix it. There is a .pdf pamphlet on the assessor’s site which explains your rights and the appeal process.

http://www.sdcounty.ca.gov/cob/aab/index.html

The first step is to call the assessor’s office and ask to speak with the assessor assigned to your property. There’s a possibility that a higher assessment is just a clerical error. If not, if it is the result of a “reasoned” assessment, then you will have to appeal. File your appeal with the board using the forms on the assessor’s website. Once you get notice that your appeal was received, wait a month and call the assessor’s office again and speak to the same assessor you spoke to before – now that you have filed an appeal they can make an offer or stipulate to a lower base year assessment. If they do this and you are satisfied, you will not have to appear before the board. I’m waiting for a call back now… so I can’t speak first hand about the rest of the process.

[Chance the Gardener]

Here’s a link to a letter to county assessors from the state board of equalization regarding the definition of fair market value:
http://www.boe.ca.gov/proptaxes/pdf/89_06.pdf

Basically, as long as you have completed a change in ownership statement (usually done by escrow company – included in your closing documents – must be filed with deed by closing agent otherwise there is an additional fee) you are entitled to a rebuttable presumption that the purchase price in an arms-length transaction is the fair market value. The assessor seems to think he can rebut this presumption with comparable property values. We’ll see how my appeal goes (purchase price $625K, base year assessment $725k).

It is very important that when you receive your first tax bill showing your new assessment, that you file for your appeal. You only have 90 days and then you’re stuck with that base year assessment. Unlike getting your assessment adjusted year-to-year under Prop. 8, your base year assessment sticks with you the entire time you own the property. This is your only chance to fix it. There is a .pdf pamphlet on the assessor’s site which explains your rights and the appeal process.

http://www.sdcounty.ca.gov/cob/aab/index.html

The first step is to call the assessor’s office and ask to speak with the assessor assigned to your property. There’s a possibility that a higher assessment is just a clerical error. If not, if it is the result of a “reasoned” assessment, then you will have to appeal. File your appeal with the board using the forms on the assessor’s website. Once you get notice that your appeal was received, wait a month and call the assessor’s office again and speak to the same assessor you spoke to before – now that you have filed an appeal they can make an offer or stipulate to a lower base year assessment. If they do this and you are satisfied, you will not have to appear before the board. I’m waiting for a call back now… so I can’t speak first hand about the rest of the process.

[Chance the Gardener]

Here’s a link to a letter to county assessors from the state board of equalization regarding the definition of fair market value:
http://www.boe.ca.gov/proptaxes/pdf/89_06.pdf

Basically, as long as you have completed a change in ownership statement (usually done by escrow company – included in your closing documents – must be filed with deed by closing agent otherwise there is an additional fee) you are entitled to a rebuttable presumption that the purchase price in an arms-length transaction is the fair market value. The assessor seems to think he can rebut this presumption with comparable property values. We’ll see how my appeal goes (purchase price $625K, base year assessment $725k).

It is very important that when you receive your first tax bill showing your new assessment, that you file for your appeal. You only have 90 days and then you’re stuck with that base year assessment. Unlike getting your assessment adjusted year-to-year under Prop. 8, your base year assessment sticks with you the entire time you own the property. This is your only chance to fix it. There is a .pdf pamphlet on the assessor’s site which explains your rights and the appeal process.

http://www.sdcounty.ca.gov/cob/aab/index.html

The first step is to call the assessor’s office and ask to speak with the assessor assigned to your property. There’s a possibility that a higher assessment is just a clerical error. If not, if it is the result of a “reasoned” assessment, then you will have to appeal. File your appeal with the board using the forms on the assessor’s website. Once you get notice that your appeal was received, wait a month and call the assessor’s office again and speak to the same assessor you spoke to before – now that you have filed an appeal they can make an offer or stipulate to a lower base year assessment. If they do this and you are satisfied, you will not have to appear before the board. I’m waiting for a call back now… so I can’t speak first hand about the rest of the process.

[Chance the Gardener]

Here’s a link to a letter to county assessors from the state board of equalization regarding the definition of fair market value:
http://www.boe.ca.gov/proptaxes/pdf/89_06.pdf

Basically, as long as you have completed a change in ownership statement (usually done by escrow company – included in your closing documents – must be filed with deed by closing agent otherwise there is an additional fee) you are entitled to a rebuttable presumption that the purchase price in an arms-length transaction is the fair market value. The assessor seems to think he can rebut this presumption with comparable property values. We’ll see how my appeal goes (purchase price $625K, base year assessment $725k).

It is very important that when you receive your first tax bill showing your new assessment, that you file for your appeal. You only have 90 days and then you’re stuck with that base year assessment. Unlike getting your assessment adjusted year-to-year under Prop. 8, your base year assessment sticks with you the entire time you own the property. This is your only chance to fix it. There is a .pdf pamphlet on the assessor’s site which explains your rights and the appeal process.

http://www.sdcounty.ca.gov/cob/aab/index.html

The first step is to call the assessor’s office and ask to speak with the assessor assigned to your property. There’s a possibility that a higher assessment is just a clerical error. If not, if it is the result of a “reasoned” assessment, then you will have to appeal. File your appeal with the board using the forms on the assessor’s website. Once you get notice that your appeal was received, wait a month and call the assessor’s office again and speak to the same assessor you spoke to before – now that you have filed an appeal they can make an offer or stipulate to a lower base year assessment. If they do this and you are satisfied, you will not have to appear before the board. I’m waiting for a call back now… so I can’t speak first hand about the rest of the process.

[Chance the Gardener]

Here’s a link to a letter to county assessors from the state board of equalization regarding the definition of fair market value:
http://www.boe.ca.gov/proptaxes/pdf/89_06.pdf

Basically, as long as you have completed a change in ownership statement (usually done by escrow company – included in your closing documents – must be filed with deed by closing agent otherwise there is an additional fee) you are entitled to a rebuttable presumption that the purchase price in an arms-length transaction is the fair market value. The assessor seems to think he can rebut this presumption with comparable property values. We’ll see how my appeal goes (purchase price $625K, base year assessment $725k).

It is very important that when you receive your first tax bill showing your new assessment, that you file for your appeal. You only have 90 days and then you’re stuck with that base year assessment. Unlike getting your assessment adjusted year-to-year under Prop. 8, your base year assessment sticks with you the entire time you own the property. This is your only chance to fix it. There is a .pdf pamphlet on the assessor’s site which explains your rights and the appeal process.

http://www.sdcounty.ca.gov/cob/aab/index.html

The first step is to call the assessor’s office and ask to speak with the assessor assigned to your property. There’s a possibility that a higher assessment is just a clerical error. If not, if it is the result of a “reasoned” assessment, then you will have to appeal. File your appeal with the board using the forms on the assessor’s website. Once you get notice that your appeal was received, wait a month and call the assessor’s office again and speak to the same assessor you spoke to before – now that you have filed an appeal they can make an offer or stipulate to a lower base year assessment. If they do this and you are satisfied, you will not have to appear before the board. I’m waiting for a call back now… so I can’t speak first hand about the rest of the process.

[Anonymous]

Suppose you do have to appear before the board,what do you do then? It seems it should be the assessor’s burden to justify the (higher than FMV) assessment, not your burden to argue otherwise- that it that should be FMV, which would be any reasonable person’s expectation to begin with.

[Anonymous]

Suppose you do have to appear before the board,what do you do then? It seems it should be the assessor’s burden to justify the (higher than FMV) assessment, not your burden to argue otherwise- that it that should be FMV, which would be any reasonable person’s expectation to begin with.

[Anonymous]

Suppose you do have to appear before the board,what do you do then? It seems it should be the assessor’s burden to justify the (higher than FMV) assessment, not your burden to argue otherwise- that it that should be FMV, which would be any reasonable person’s expectation to begin with.

[Anonymous]

Suppose you do have to appear before the board,what do you do then? It seems it should be the assessor’s burden to justify the (higher than FMV) assessment, not your burden to argue otherwise- that it that should be FMV, which would be any reasonable person’s expectation to begin with.

[Anonymous]

Suppose you do have to appear before the board,what do you do then? It seems it should be the assessor’s burden to justify the (higher than FMV) assessment, not your burden to argue otherwise- that it that should be FMV, which would be any reasonable person’s expectation to begin with.

[donaldduckmoore]

If we wait longer for the housing market to tank further before we appeal, then would the new assessment be even lower than the purchase price you bought the house. We only have one chance to appeal is that right?

[donaldduckmoore]

If we wait longer for the housing market to tank further before we appeal, then would the new assessment be even lower than the purchase price you bought the house. We only have one chance to appeal is that right?

[donaldduckmoore]

If we wait longer for the housing market to tank further before we appeal, then would the new assessment be even lower than the purchase price you bought the house. We only have one chance to appeal is that right?

[donaldduckmoore]

If we wait longer for the housing market to tank further before we appeal, then would the new assessment be even lower than the purchase price you bought the house. We only have one chance to appeal is that right?

[Author]

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