The Tax Assessor Reduced My Assessed Value

[EconProf]

The San Diego County Tax Assessor voluntarily reduced my property tax assessment in a letter to me July 2. Thank you, Greg Smith, for recognizing reality. Since I bought in the summer of 2005, the market value has fallen by about the 23% the assessor now says. I’ll take it.
Background: I appealed the assessed value last November 30 for the value as of January of 07. The recent letter is for the value as of January of this year, for taxes to be paid this coming December and next April. I’ll happily take this new assigned value, and won’t appeal it by this November’s deadling for filing an appeal.
However, my existing appeal for ’07 taxes already paid still exists. I’ll fight for it, in a hearing if necessary. I expect a call any day now from the Assessor’s Office with an offer to stipulate a compromise value. It will likely be somewhere between their (rediculous) January 07 value and my (well-documented)claimed value.
This experience raises a slew of issues for any Piggs who bought any property after about 2004. We can share experiences and gain some serious tax-saving strategies, whether we have filed an appeal yet or may do so.
1. One questions is, did I get a voluntary reduction for the Jan 08 assessment because I filed an appeal for 07? Did the squeaky wheel get the oil? Piggs: Did you file an appeal for 07 and get this letter in the last few days? Piggs who did not file an appeal for 07: Did you get a voluntary reduction letter recently (assuming it is warranted by an market value in Jan 08 that is markedly below assessed value). Let’s hear from these two groups.
2. The new assigned value was about 2% below my asked-for 07 value. I know TuVu here had a similar thread in which he stated his appeal nearly matched his new assigned value. However, he confused the 07 appeal with the 08 assigned value. The dates are tricky that the Tax Assessor must stick to by law, so this is easily confused.
3. As pointed out by others here, the Assessor is overwhelmed, having some 13,000 07 appeals to deal with. If we don’t agree to their (presumed) offers to compromise, how can they hope to hear us all in their quasi-judicial hearings? Accordingly, we can be tough bargainers when they phone us.
4. Any Piggs who have had hearings? Or offers to compromise? Share your experience.
5. As an aside, the government entities that depend on property tax revenues are about to be clobbered with a dropoff in receipts. OTOH, there ought to be a lot of fat there to cut–for years now they have benefitted from increases in property tax revenues far exceeding the growth in population + inflation all due to the surge in property values.
6. Finally, for Piggs who might appeal their Jan 08 values by the November deadline upcoming: Read up on the proceedures, get your neighborhood comps documented from sales a few months before and after last January, and prepare to do battle. You can save yourself serious money, and it is your right under the law to do so.

Footnote: I am the former BobS here–just thought my handle should better describe my past career.
EconProf

[TuVu]

Econ–

Looks like they are reassessing everyone…or so it seems because of your case. As I posted yesterday, or the day before, we filed before May 30th for a reassessment — complete with comps — and we got a letter from Greg Smith on the 3rd downgrading our home’s value $100K. Yay! As you know, on that form, they ask you how much you think your house is worth. We named a figure, and that’s exactly what they reassessed us for. I only wish we’d put in an even lower number!

On the other hand, Fat Lazy Union says his assessment this year is even higher than last year. I think he lives in one of the strongholds, though. Carmel Valley I think.

[TuVu]

Econ–

Looks like they are reassessing everyone…or so it seems because of your case. As I posted yesterday, or the day before, we filed before May 30th for a reassessment — complete with comps — and we got a letter from Greg Smith on the 3rd downgrading our home’s value $100K. Yay! As you know, on that form, they ask you how much you think your house is worth. We named a figure, and that’s exactly what they reassessed us for. I only wish we’d put in an even lower number!

On the other hand, Fat Lazy Union says his assessment this year is even higher than last year. I think he lives in one of the strongholds, though. Carmel Valley I think.

[TuVu]

Econ–

Looks like they are reassessing everyone…or so it seems because of your case. As I posted yesterday, or the day before, we filed before May 30th for a reassessment — complete with comps — and we got a letter from Greg Smith on the 3rd downgrading our home’s value $100K. Yay! As you know, on that form, they ask you how much you think your house is worth. We named a figure, and that’s exactly what they reassessed us for. I only wish we’d put in an even lower number!

On the other hand, Fat Lazy Union says his assessment this year is even higher than last year. I think he lives in one of the strongholds, though. Carmel Valley I think.

[TuVu]

Econ–

Looks like they are reassessing everyone…or so it seems because of your case. As I posted yesterday, or the day before, we filed before May 30th for a reassessment — complete with comps — and we got a letter from Greg Smith on the 3rd downgrading our home’s value $100K. Yay! As you know, on that form, they ask you how much you think your house is worth. We named a figure, and that’s exactly what they reassessed us for. I only wish we’d put in an even lower number!

On the other hand, Fat Lazy Union says his assessment this year is even higher than last year. I think he lives in one of the strongholds, though. Carmel Valley I think.

[TuVu]

Econ–

Looks like they are reassessing everyone…or so it seems because of your case. As I posted yesterday, or the day before, we filed before May 30th for a reassessment — complete with comps — and we got a letter from Greg Smith on the 3rd downgrading our home’s value $100K. Yay! As you know, on that form, they ask you how much you think your house is worth. We named a figure, and that’s exactly what they reassessed us for. I only wish we’d put in an even lower number!

On the other hand, Fat Lazy Union says his assessment this year is even higher than last year. I think he lives in one of the strongholds, though. Carmel Valley I think.

[EconProf]

Let’s remember the Prop 13 rules we (and the Assessor) must live by. The assessed value can only increase by 2% a year since the time you bought it. Accordingly, people who bought long ago and whose assessed value is still below their (recently reduced) market value will get no benefit. Yet. This may apply to FLU.

[EconProf]

Let’s remember the Prop 13 rules we (and the Assessor) must live by. The assessed value can only increase by 2% a year since the time you bought it. Accordingly, people who bought long ago and whose assessed value is still below their (recently reduced) market value will get no benefit. Yet. This may apply to FLU.

[EconProf]

Let’s remember the Prop 13 rules we (and the Assessor) must live by. The assessed value can only increase by 2% a year since the time you bought it. Accordingly, people who bought long ago and whose assessed value is still below their (recently reduced) market value will get no benefit. Yet. This may apply to FLU.

[EconProf]

Let’s remember the Prop 13 rules we (and the Assessor) must live by. The assessed value can only increase by 2% a year since the time you bought it. Accordingly, people who bought long ago and whose assessed value is still below their (recently reduced) market value will get no benefit. Yet. This may apply to FLU.

[EconProf]

Let’s remember the Prop 13 rules we (and the Assessor) must live by. The assessed value can only increase by 2% a year since the time you bought it. Accordingly, people who bought long ago and whose assessed value is still below their (recently reduced) market value will get no benefit. Yet. This may apply to FLU.

[Coronita]

Thanks. I didn’t think the assessor was automatically doing reassessment…I stand corrected.

I ain’t really looking for a reassessment right now. Coinicidently, I was contacting the assessor’s office about some other thing on my tax prop bill last year regarding a transition some common area that use to be HOA belonged and is now SD county belonged, and hence some taxes I’m paying. It was hard to get a hold of people, since they said they were so swamped with reassessments, and I was just asking around. But my information is a little outdated. I don’t think a reassessment wouldn’t benefit me right now, as some of therecent sales on my street have been still been closing above my currently assessed value (for now) :), so it’s probably not going to help right now. Sometime next year is a different story.

[Coronita]

Thanks. I didn’t think the assessor was automatically doing reassessment…I stand corrected.

I ain’t really looking for a reassessment right now. Coinicidently, I was contacting the assessor’s office about some other thing on my tax prop bill last year regarding a transition some common area that use to be HOA belonged and is now SD county belonged, and hence some taxes I’m paying. It was hard to get a hold of people, since they said they were so swamped with reassessments, and I was just asking around. But my information is a little outdated. I don’t think a reassessment wouldn’t benefit me right now, as some of therecent sales on my street have been still been closing above my currently assessed value (for now) :), so it’s probably not going to help right now. Sometime next year is a different story.

[Coronita]

Thanks. I didn’t think the assessor was automatically doing reassessment…I stand corrected.

I ain’t really looking for a reassessment right now. Coinicidently, I was contacting the assessor’s office about some other thing on my tax prop bill last year regarding a transition some common area that use to be HOA belonged and is now SD county belonged, and hence some taxes I’m paying. It was hard to get a hold of people, since they said they were so swamped with reassessments, and I was just asking around. But my information is a little outdated. I don’t think a reassessment wouldn’t benefit me right now, as some of therecent sales on my street have been still been closing above my currently assessed value (for now) :), so it’s probably not going to help right now. Sometime next year is a different story.

[Coronita]

Thanks. I didn’t think the assessor was automatically doing reassessment…I stand corrected.

I ain’t really looking for a reassessment right now. Coinicidently, I was contacting the assessor’s office about some other thing on my tax prop bill last year regarding a transition some common area that use to be HOA belonged and is now SD county belonged, and hence some taxes I’m paying. It was hard to get a hold of people, since they said they were so swamped with reassessments, and I was just asking around. But my information is a little outdated. I don’t think a reassessment wouldn’t benefit me right now, as some of therecent sales on my street have been still been closing above my currently assessed value (for now) :), so it’s probably not going to help right now. Sometime next year is a different story.

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