1 post tagged “property tax reassessment”
Fed up with paying sky-high property taxes on a home which may have actually dropped in value over the past year? Resident realtor, Timo is telling Petaluma and Southern Sonoma County clients to take a look at the possibility of having their real estate property tax temporarily lowered until the market begins to climb back up to where it was at purchase point.
California State Revenue and Taxation Code, Section 51 authorizes the assessor to temporarily lower the assessed value of real estate property when it is greater than the actual market value as of the January 1st, lien date.
"In short," explains Timo "Home owners must provide evidence to support their claim that they are over-paying on their property taxes due to declines in local value. The best support includes detailed market analysis information on three comparable properties that sold in the area between January 1st and March 31st, 2007."
A form for informal requests for Prop 8 Reassessment can be downloaded at www.sonoma-county.or/assessor or obtained by calling the Clerk of the Assessments for Appeal Board at 707 565-2241.
"Appeals must be postmarked by the deadline of November 30th, 2007," says Timo, "So if you think your property may qualify for a reduction in taxes, give me a call today and I'll be happy to provide you with the necessary comparatives."
Timo can be contacted directly at 707 769 4272 or emailed at timo@timorivetti.com
