Monday, January 29, 2018 / by Sean Zanganeh
This is the explanation for the County Assessor's Office to save you a considerable amount of money on your taxes paid by simply filling out a 1 page form. Read through this and click the link below to download the form. PLEASE CALL WITH ANY QUESTIONS!
Property Tax Relief
The County Assessor’s Office wishes to notify property owners that tax relief is available if their property’s market value has fallen below its assessed value. Your property’s assessed value is shown in the upper right hand corner of your current tax bill. For all practical purposes, this only affects those property owners who purchased their property at the height of the current real estate market.
Under State Law, (proposition 8 ) a temporary reduction in assessed value can be made when the market value, as of January 1, 2009, falls below the assessed value. Once reduced, the Assessor’s Office must then annually review the value of the property. When the property values increase, the assessed value will also be increased but no higher than the original assessed value (pluse the annual CPI increase, not to exceed 2%, as required by Proposition 13).
Numerous private businesses and individuals are currently mailing solicitations to property owners offering their assistance in this process for a fee. While property owners are certainly at liberty to use these private companies, they can apply for this reduction themselves at absolutely no cost by simply filling the application with the Assessor’s Office by May 30. Property owners who believe their property’s market value has fallen below its assessed value should file an 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 supporting documentation, such as comparable sales, current listings, or a recent appraisal indicating the value as of January 1, 2009. Ideally, comparable sales should have occurred between 10/01/08 and 03/31/09. For apartments or other income-producing property, income and expense information should also be provided. This application is available on the Assessor’s Web site at www.sdarcc.com , in all the Assessor’s branch offices, or by phoning the Assessor’s Office at (858) 505-6262. When complete, please return the application to San Diego County Assessor/Recorder/Clerk, 1600 Pacific Highway, Room 103, San Diego, CA 92101.
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.
CLICK BELOW FOR FORM /
PLEASE CALL WITH QUESTIONS!