Not Over Yet

The big story here is that for the first time since Proposition 13 passed back in 1978, property tax assessments in California are factoring down, statewide, across the board. By that I mean, every single property assessment in the state, whether you've owned for 3 years or 30 years, is going down, sometimes significantly due to declines in the market, in other instances just a bit due to the sluggish California CPI. My taxes are going down about $5 next year. To calculate the decline in your property taxes, multiply your current assessment by .99763 and then apply the tax rate from last year's bill. If the market value of your home is even lower than .99763 of last year's assessment, call your assessor and ask for a reduction.

1 comment:

  1. Advise on how to pay less property tax? Sounds like teabagging to me.