How To Lower Your Laguna Beach Property Tax Bill
Category : Laguna Beach Real Estate
It’s common for the tax assessor’s office to continue charging the higher amount until the owner goes through the process of contesting the bill. Fortunately, it’s relatively easy to have your property tax assessment lowered…here’s how:
To get your property taxes reduced on the basis of the recent decline in market value:
1. Click below for a Request for Informal Assessment Review from the OC County Tax Assessor’s Office:
2. Choose the form for your property type. Be sure to provide accurate and complete information. Usually the request will ask you for (a) an estimate of the current market value of your home, and (b) a list of recent, comparable sales in your neighborhood supporting that estimate of value.
3. Contact me for comparables – Sean@welcometothedream.com or 949-290-5317
4. Alternatively, find a trustworthy online comparables site, like CyberHomes.com, where you can get both an estimated value and a list of the comparable sales on which it was based.
5. Keep in mind that you are trying to make the case that your property value is significantly lower now than when you bought it, so list legitimate comparable sales which support that argument or you are wasting your time! And keep in mind that if you bought your home 10 or 20 years ago, your property’s assessed value might not be out of whack with current market values, even though your home’s market value may have declined from the peak of the market.
6. Sign it and mail it! Allow several weeks, then call and check on the progress of your request. If it’s accepted, you’re golden — for this year. Most areas require you to revisit the reassessment issue every year. If it’s denied, there will be a more formal application and appeals process available to you and you can decide at that time whether it makes sense to undertake that.