Save big money on your property tax….

As property values continue to decline it would be in your best interest to have your property tax reassessed. In 2006 and 2007 your property values were much higher than they are today.  Why keep paying at the higher tax rate when the value of your home lost half of it’s value? You would be an idiot if you didn’t try to lower your base. Paying a higher tax rate is like paying a higher mortgage interest rate. Why pay a mortgage at 6.75 when you can refi for a 4.35 rate?

Challenge your assessed value. It’s easy. Pick up the phone and call your realtor OR if you know what you are doing simply fill in the “Decline in Value” assessment and get it in!  If you don’t your just throwing money down the drain when you could be saving for that next investment.

Is it really that easy to recoup your losses by fighting your property taxes?  Yes it is.  No matter what county you live in do a google search for “(Your County)  county assessors office”  you’ll find a link where you can download the form. If you cannot find the link simply call your county assessors office (call information or look in the yellow pages) and ask that they send you the form.  You can also have your local realtor help you out. She will pull comps for your home, she’ll fill in the form and then send it to you for review. If all looks okay and you have no questions you will sign off on it and then mail the form in to the county assessors office.

Voila. Asessment form complete.

In one case a homeowner in Alameda County purchased their home 3 years ago for $475K, once they pulled the comps and submitted the form they heard back (within 4-6 weeks) that the county approved to have thier property value reassessed at $389K!!  BIG ass difference and a BIG saving for YOU the homeowner.

If you live in Alameda County click here for the form

If you live in Contra Costa County click here for the form

If you live in Marin County click here for the form.

If you live in San Francisco County click here for the form.

*Please take note of the dates on the form. The assessor usually caps off at a certain date and you might need to wait or resubmit as the market changes.