PROPERTY TAX RELIEF
Take Warning
for a fee, in completing an application to have the Assessor’s office review your property’s assessed value for a potential reduction. Mr. Butler wishes to emphasize to property owners that they can complete this same application and submit it directly to his office at no cost. Application for Review of Assessment with the Assessor’s Office as soon as possible, but no later than May 30, 2009. They should provide their opinion of value and any supporting documentation such as comparable sales, current listings, or a recent appraisal. For apartments or other income-producing property, income and expense information should also be provided. This free application is available on the Assessor’s website at www.sdarcc.com (see the banner at the top of the home page), in all Assessor’s branch offices, or by phoning the Assessor’s Office at (858) 505-6262. When complete, please return the application to the Assessor/Recorder/County Clerk, 1600 Pacific Highway, Room 103, San Diego, CA 92101.
County Assessor David Butler would like to alert property owners regarding a solicitation that was recently mailed to a large number of homeowners in San Diego County. This solicitation offers assistance,
Property owners who believe their property’s market value has fallen below its assessed value should file an
California law provides potential tax relief for property owners if their property’s market value has fallen below its assessed value. For most areas of the county, this only affects those property owners who purchased their property from 2003 through mid 2008. For anyone who purchased their property prior to this, the current market value is still probably higher than their current assessed value. A property’s assessed value is shown in the upper right hand corner of your current tax bill.
Under State law, Proposition 8 allows for a temporary reduction in assessed value when a property’s market value falls below its assessed value. Once reduced, the Assessor’s Office must then annually review the value of the property and the property owner does not have to resubmit an application each year. When the property’s value increases, the assessed value will also be increased but no higher than the original assessed value (plus the annual CPI increase, not to exceed 2%, as required by Proposition 13).
Property owners who apply for this temporary reduction will be notified in early July of the results of their request. If they still disagree with the value, a formal assessment appeal process is available. This application must be filed with the Clerk of the Assessment Appeals Board between July 2 and November 30.
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Property Tax Assessment: How to Select a Quality Company
Consumers recently have been getting mixed messages about companies offering to help reduce their property tax bills for a fee. As this industry is not well known, consumers can become confused when trying to select a property assessment reduction firm. There are legitimate and quality companies, such as the Property Tax Assessment Adjusters, that actively advocate for homeowners throughout the entire process of review and appeal of an assessed value for property tax purposes. While the process is something that homeowners can do on their own for no fee, legitimate state licensed companies exist to save consumers time on research, paperwork and representation, and tend to be more successful than homeowners in their reductions due to a high level of experience and more accurate data.
Four indicators consumers should look for when selecting a company:
1. Member of BBB and licensed
2. Money back guarantee
3. No specific savings promised
4. Pre-screened mailings
Detailed consumer indicators for company selection:
1. Is the company a member of the Better Business Bureau and licensed in the state to do business?
If so, the company adheres to the morals and guidelines of running an ethical business. If any complaints should arise, they can be submitted to the BBB and the company must do everything possible to resolve them. Furthermore, if the company claims to be a government agency, that is a sign to be cautious.
2. Does the company offer a money-back guarantee?
If so, the company is agreeing to refund a customer if an adjustment in assessed value is not secured. The guarantee essentially offers consumers a no-risk way to get help on their property tax bills. If the company does not have a refund policy, buyers beware.
3. Does the company promise a specific savings upfront?
If a company indicates a specific savings upfront, this indicates that the company has applied a blanket reduction (typically 20 or 30 percent) that is not based on comparable home sales and is therefore not reliable or accurate. Savings are based on a detailed work including a review of relevant comparable sales with the county, so there is no way of knowing the exact savings upfront.
4. Does the company market its services to everyone?
Blanket mailings are a sign that the company has not done its homework on who it can actually help. Legitimate companies tend to mail to only those for whom they truly believe they can secure a savings. Property Tax Assessment Adjusters completes a preliminary analysis and mails to homeowners with a good chance they can save at least $200 in their first year alone, or significantly more.
For more information, visit the Property Tax Assessment Adjusters website at http://www.ptaaonline.com, or the Better Business Bureau at http://www.bbb.org.