Each year your county assessor sends you a bill or “assessment” for taxes owed on your property. The value placed on your property is based on the January 1st value of your property for the year of the assessment.
The amount of the tax is calculated as a percentage of the dollar amount you originally paid for your home (“base year”.) Proposition 13 allows the assessment to increase a rate of 2% each year. See more detailed Proposition information in links in RESOURCES.
Homeowners have a right to have their property accurately valued for tax assessment People often assume that this process is automatic, accurate and fair. The truth is that county assessors don't have the resources to look at every property as carefully as one might expect. In times of falling home values, overvaluing of properties unfortunately occurs more frequently. As a result many homeowners end up paying more than they should in taxes.
If you feel that your county assessor has overvalued your property, it's up to you to call their attention to the error and get them to take a closer look. Remember that this is your right, and initiating the process is as simple as filing the appropriate paperwork with your county assessor during the specified timeframe.
Once you’ve submitted correct paperwork the county assessor is required to respond to you.
In many cases the assessor will contact the property owner by mail or phone to offer a value reduction. If you are agreeable to the offered reduction… you win a SMALLER TAX BILL!
If you don’t agree with the assessor’s offered valuation, you may choose to go to your Local Appeals Board. This part of the process may require you to obtain some additional information supporting your claim of a lower property value.
