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General Area in Norwalk : Real Estate Advice

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  • Home Buying30
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Activity 2
Thu Oct 8, 2009
Steven Ornellas answered:
Hi Francisca, your home value SHOULD NOT be reassessed to current market value.

Technically, you needed to notify the County when the first property was no longer your principal residence. According to this Q&A Orange County website: http://www.ocgov.com/assessor/faq.asp#HE

"If you do not own and occupy your home as your principal place of residence, you must cancel your Homeowner's Exemption. You can cancel the exemption by writing to our office, or using the termination form included with your property tax bill. Please let us know the date you moved, and provide your new mailing address."

Also, while not the same County, you will note that the Homeowners Exemption removal form of this other CA County indicates penalties may be levied via California Revenue and Taxation Code Section 531.6
http://co.alameda.ca.us/forms/assessor/Exemption_Ineligibility_Notice.pdf
http://law.onecle.com/california/taxation/531.6.html

Given that the exemption only covers $7000 of value, and that penalties can accrue, you may want to remove the exemption sooner than later.

Best, Steve
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Wed Nov 14, 2007
Linda A. Cappello answered:
Hi Eugene,
Linden Street is located in an area of Norwalk that is an ideal commuter location. In the later 70's, and early 80's, several condominium developments were constructed. They are all quite nice, some nicer than others, but rest assured, it is a great area to rent in and most convenient to everything. LInden Street runs between Route 7 and West Rocks Road, which is the Cranbury are of Norwalk. If I can be of further assistance, please feel free to contact me either by email or telephone. I specialize in the Norwalk marketplace and would welcome any questions you may have about the area, or help you to find a rental if you would like.
Kindest regards,
Linda Cappello, Realtor, GRI, ABR, Notary
Cappello Realty, LLC, 168 East Avenue, Norwalk, CT 06851
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