Tax Savings Program

 

Decline in Market Value
In 2009, the Assessor reviewed 280,000 properties and reduced the Taxable Value of 202,800 properties.  In 2010, the Assessor will review about 317,000 properties, including most single family, multi-family (apartment), condominium and townhouse properties purchased after December 31, 2001. 

Taxpayers can visit the Assessor website at www.ocgov.com/assessor to see if their home will be reviewed for a possible reduction in taxable value.  The website provides a specific answer for each property that may be in the review group.  Commercial property is also being reviewed, however, commercial property information is not available using this inquiry capability. 

Each property owner will get a notice of their Prop. 13 value in July 2010.  The deadline for filing an Assessment Appeal on a 2010 taxable value is September 15, 2010.  Property is valued each year as of January 1 (lien date) for property tax purposes.  Eligible properties will receive a reduction in taxable value for the 2010/11 tax year.

• Do I have to pay to have my property reviewed?
• There is no fee and no paperwork is required. Taxpayers should be very careful not to pay up to $150 for a service that the Assessor will provide for free.

Other Tax Savings Programs
The following propositions were adopted by California voters to allow property owners to transfer their Proposition 13 factored base year value, or exclude certain events from reassessment:

 

 

 

 

 

If you qualify, you must submit a completed claim form to receive these tax savings benefits.  In some circumstances, your Proposition 13 factored base year value may not make it beneficial to file a claim.

Copyright ©2010 Webster J. Guillory. This website paid for by Guillory for Assessor, FPPC#980968.