how to prove my case on the city for the taxes (the diference in the value)?

Asked by Romeo, San Francisco, CA Thu May 7, 2009

im going to the city for my first hearing, i hope the last to try to put down the value they thing its my house, I bought my house feb 2008 for $360 the before value was $650 but the city says the value is $440, it affects me at the end of the year for taxes. I was on a program(firs time home buyers) i buy it in the market open to any offerts and we have a 30 year 4.75%interest fixed but because of the city belives my payment increased 300dollars.
i have 3 comparables and a letter from my program teacher what else can i do?

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David Tapper, Agent, Burlingame, CA
Thu May 7, 2009
I agree Romeo, get some comps from your agent to justify your taxes. If your agent wont get them, I will do it for you.

Also, if you do not think the City is playing fair, contact channel 7 on your side and ask them to help.

Good luck,

Dave Tap Tapper
Cashin Company
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Natasha Lovas, Mortgage Broker Or Lender, San Francisco, CA
Fri May 8, 2009
I don't see why your payment has increased by $300. That doesn't sound right to me. If your purchase price was $360k, your annual taxes would have been $4104. If the City believes the value is $440k, then your taxes will be $5016. That's an annual difference of $912, or $76 per month.

Of course you should still fight it, I'm just saying maybe it's not as bad as you think?!?
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Jed Lane, Agent, Petaluma, CA
Fri May 8, 2009
First before you start to believe that "the City" is out to get you, understand that the people behind the counter are just doing thier job. They don't "know" the value of your house anymore than anyone else. All marketing analysis and appraisals are opinions of the current value. Market analysis determiines a "possible" sale price if the property is placed on the market in saleable condition. An appraisal determines a "likely" sale price in it's current condition. Both are the best opinions of professionals based on recent past sales.
The tax office is attempting to do the same thing, establish the tax base on your property by comparing past sales.
What you need to do is build your case why you were able to pay the market price you paid and why THAT is the value. If you can't convince the assessors office of the value you can appeal it to the tax appeals board. Be sure you get a good understanding of how the assessors office came up with thier number because the most important thing you can do is use thier numbers and prove them wrong.
Also not to be critical but your English is not clear so I'd recommend the use of a translator when dealing with officialdom.
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Derek Joyner, , Winston Salem, NC
Thu May 7, 2009
It sounds like you are doing a pretty good job. I might would pay an agent a little something to do a CMA(Comparative Market Analysis) for you. This will probably not be the last time you will be fighting the tax office. The real estate tax is where a lot of the government is trying to make up some extra money. They are raising your value not the tax rate. That way when you come and complain they can say well your value increased and we did not increase the rate. I read something the other day that said the government is planning to raise taxes by around 1.8 trillion dollars in the next 10 years. Which will pretty much double everything in the next 10 years on taxes. This is there plan for the money they have spent on this recession. So get ready you may have to do this again for the next 9 years. If you can find your old appraisal that might help to. They will say it is an old appraisal, but if you can get a real estate agent to give you or at least tell you what the appreciation rate has been since Feb 08 you might can use this. Hope this helped.
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