And get answers here You can probably get a re-assessment if it has not already been done. The Riverside County Tax Assessor's office did a blanket re-assessment in late 2009 due to declining values. The base tax of 1.08 percent is based on "Property Value", and since property values have declined in the last couple of years you should make sure that your property is being taxed at current value.
The Assessments that are attached to bonds do not go down with the value.....they are a fixed amount that was determined when the builder obtained the bond to build the homes.
The Assessments are broken down in your copy of your property tax bill.
If you email your address I can give you some comps. I am surprised that your last assessment was 2006. You can take 2 -4 comps and fill out a form for reassessment. By seeing the comps you will see the value of home decline at the same time. I can or any other realtor can give you the comps and you can print form for reassessment from the county site. Fill it out, return with your comps and hopefully they will reduce your taxes accordingly.
The tax rate id usually 1.1% - 2.2% for the most part here in riverside county.
the rate differs from development to development.
From what I recall, I would need to check,
I think you only have 60 days to do a reassessment after you inherit a property for the value it is.
as for a good value decline chart
change your town and or zip code.
I would contact the county assessors office asap
So Cal Homes Realty
Thank you for your answer. The tax range is helpful and you gave me a new term to research (Mello Roos).
I do need to further explain my question though because while the rest of your answer is helpful for home owners it doesn't fully apply to my circumstances.
Our home was gifted to us by my wife's father and because it was a father daughter gifting there was no reassessment. So there was no purchase price involved and no automatic increase by the assessor's office.
I'm trying to determine if it'd be a wise idea to request a reassessment given the current condition of the market as opposed to how it was in 2006. Everywhere I go I hear radio or tv ads, billboards, newspaper ads and even online advertising talking up reassessment to help lower property taxes.
I'm also still very much interested in home value decline percentages in this area since 2006 until current.
Thank you again Linda for a partially perfect answer and I welcome any refinement you might be able to provide.
Your home's tax bill would be based on your purchase price plus any automatic increases that the assessor's office has added. You can dispute this by filing an appeal with your county assessor's office. The process is pretty much the same for each county throughout CA.
Here are the basics on filing an appeal: http://bit.ly/jdMZ.