Henri Raymond,  in Felton, CA

Can you readjust the real estate taxes after you buy to a much lower tag price, ? Thank you

Asked by Henri Raymond, Felton, CA Sat May 26, 2012

the home is ion the santa cruz area, the land is over assessed by 10, my experience in the passes was the new sell price is the new assessment, please help if you can

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Cindy Davis’ answer
Generally speaking, the property is re-assessed that time of sale or refinance. If your home has gone down in value since you've owned it, there is a way to present this information to the assessor's office.

In San Diego,. we complete a form and then have an agent pull all the recent market comparables. This then goes to the asessor's office for review.
0 votes Thank Flag Link Sat May 26, 2012
Henri :

The process of value reductions via Prop 8 is covered in this blog post:

"Estimating Property Taxes in CA"

Note that each year the Assessor compares the factored Prop 13 base year value to the current year Jan 1 market value after applying the California State Board of Equalization CA Consumer Price Index increase and uses the LESSER of the two figures.”

0 votes Thank Flag Link Sat May 26, 2012
If you can show the assessor that you somehow paid far above fair market value for the property, you might be able to get them to re-assess it. But it's rare for someone to pay above fair market value for a property, so convincing them that you have is probably going to be a tough row to hoe.
0 votes Thank Flag Link Sat May 26, 2012
it's the reverse siutuation, I paying much less that it is assessed, 5 times less that by itself justified there is a problem with the county assessment, what do they do in such case?
Flag Sat May 26, 2012
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