Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

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Are Your Overpaying Property Taxes?

California real estate property taxes are based on the last market valuation of your home that was filed with the county.

 When property values decline, property owners may appeal to their county tax assessor for a reassessment at fair market value.  Property owners should gather research to substantiate that their values have dropped. Besides finding sales of comparable properties in your neighborhood, www.zillow.com may give you a quick and dirty estimate of the property’s value.

 

San Francisco’s filing period for a formal appeal (which requires an Application for Changed Assessment form) of your 2019/2020 assessed property value can be filed starting July 2 and is due by September 15, 2019.

 Each county in California has its own deadline for accepting Decline in Value forms.

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Richard Pon CPA, CFP