Q: What are our property taxes used for?
A: They provide a major source of revenue for your county’s schools, hospitals, protection services, parks, libraries, and roads.
Q: how much is my property tax?
A: While it varies slightly by county, it is right around 1.2% of your home’s assessed value. The state maximum, set by PROP13, is 1%. The remainder is in voter approved bonds.
Q: what is prop 13?
A: Passed in 1978, PROP 13 was designed to prevent property owners(especially the elderly) from being forced to sell due to rising property taxes. The law states that property taxes can only increase a maximum of 2% per year, unless there is new construction on the property, or a change in ownership.
Q: what is prop 8?
A: Also passed in 1978, PROP 8 allows for a reduction in property taxes when a property has declined in value. Never before have California property owners needed PROP 8 more than they do today.
Q: What is a property tax appeal?
A: This is a process that begins when the property owner believes that the property’s assessed value (determined by the county) is greater than the property’s market value. The tax appeal includes an application, fee, and supporting evidence that must be presented to the Assessor, Hearing officer or Appeals Board.
Q: Who is over-assessed in California?
A: It varies by county, however our research of each county in the state reveals tens of thousands of over-assessed properties. Any property purchased between 2004 and 2008 is highly susceptible to over-assessment.
Q: how much can i save?
A: Your potential tax savings are approximately 1.2% of your reduction. For example;
• $50,000 Assessment Reduction = $600 per year savings
• $100,000 Assessment Reduction = $1,200 per year savings
• $250,000 Assessment Reduction = $3,000 per year savings
• $1,500,000 Assessment Reduction = $18,000 per year savings
Q: Is the reduction that I win going to continue year after year?
A: Technically, this is a “temporary” reduction. Some counties maintain your new, lower assessments, some don’t. Worse case scenario we appeal and win each year until home prices rebound.
Q: how successful would i be if i appeal myself?
A: Success with property tax appeal depends on three factors:
• one’s knowledge of the County’s rules and procedures
• the strength of your supporting evidence (relevant comps, market trends, income data, unique features)
• presenting a persuasive argument before the Assessor, Appeal Board or Hearing Officer
We believe that when filing with the assessor’s office, you need expert representation to ensure the appeal meets the county’s requirements and gives you the best chance for a maximum reduction.
Q: what is my guarantee of success with appraisal 19?
A: While we can make no guarantees, we have prevailed in over 95% of our client’s formal appeals with at least a partial reduction in taxes.
Q: How does your “no risk” fee schedule work?
A: Click Here for details.
