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Old 11-11-2011, 09:19 AM
jw2
 
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Any interesting fix to this would be a provision to not accept the county's assessment, in fact set it at whatever you want. However, if you do set your assessment, a third party can buy it for that amount.

Another angle is being able to sell the property to the county for what they assess it for.

Each method uses the principle of letting the market decide the proper price. I understand there are obvious problems with each and should not be used. But interesting.
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Old 11-11-2011, 10:05 AM
 
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Jw2, since I am not savvy in any of this, as I am trying to learn as I go. Yet I am not sure what you have provided can apply to doing a formal appeal.

Yet I do think that on the formal appeal application, they do provide a field/line where you can list what “you” feel that your property is worth or should be assessed at AND you must also including comparable sales documentation to backup the assessed amount you list.
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Old 11-11-2011, 10:31 AM
 
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Quote:
Originally Posted by BrokeIn2011 View Post
00molavi, did you just receive your notice from the assessor office that they dropped your property value, since your original posting on Monday (11-07-11)? Yet I am confused by your last post, because it seemed that you were considering your formal appeal earlier this week, yet when you mentioned the information about your redfin sales comps, it sounds like you filed for your formal appeal with the redfin sales comps information since Monday and the Assessor has now dropped the value of your house by 10% as of yesterday. Well I am now lost and confused.
Sorry for the confusion. I had filed with the assessor right when I saw my bill with increase in value. I was ANTICIPATING a denial and was getting all ready to appeal, but they accepted. I also filed for my parents-very similar scenario, and I checked today, their value was dropped by 10% too. In their case the comps were a bit more iffy. Because mine is all track housing and very easy to pull similar comps. Theirs is an older neighborhood and also a condo, so was a bit of challenge to find real comps. So I think they are seeing and recognizing the market crash and our agony. At least this is something in this crazy times. Wish everybody else luck.
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Old 11-11-2011, 02:11 PM
 
28,115 posts, read 63,672,505 times
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Quote:
Originally Posted by jw2 View Post
Any interesting fix to this would be a provision to not accept the county's assessment, in fact set it at whatever you want. However, if you do set your assessment, a third party can buy it for that amount.

Another angle is being able to sell the property to the county for what they assess it for.

Each method uses the principle of letting the market decide the proper price. I understand there are obvious problems with each and should not be used. But interesting.
Where can I sign on... I would gladly sell for my assessed value which is within a couple thousand for what I bought it for at the peak of the real estate boom...
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Old 11-13-2011, 11:55 AM
 
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00molavi, thank you for the clarification of the appeal that you did. Now it all makes very good sense.

When you said “So I think they are seeing and recognizing the market crash and our agony. At least this is something in this crazy times.”, I am hoping that I will “eventually” have some luck with my formal appeal. Because I am sure that more and more people will start fighting the Assessor over their outrageously high assessments on property with “daily” plummeting value , and then eventually California will start issuing a fee to file an appeal . . . like what happened in Ultrarunner's county.

Yet I guess I will not complain too loudly, because when I went looking (on Zillow) at one of the new housing developments that they built in my city about 8 years ago, they have homes that are 4 bedroom and 2 baths and at least 2,500 square feet, and their property taxes last year was over $8,000. WOW!!! I DO NOT live in an affluent or upscale city . . . it is more lower to mid middle class at best. I have no idea how people can afford to pay 8K+ per year in property taxes in my city. WOW!!! Yet I will cry over my 2011 almost 6K property tax bill that is due on the 10th of next month. I guess that I probably would faint if I looked at Zillow for Beverly Hills homes and the property taxes that residences there paid last year.
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Old 11-19-2011, 05:29 PM
 
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I am in the process of completing the "Application for Changed Assessment" for "Decline in Value".
I've found good comps on Redfin.
My question is, do I include these papers with my original filing or wait until I receive word of my appeal hearing? The instruction do not mention attching anything with the request, but I see the discussion for the comps. I'm confused and want to WIN, not be a loser...
Thanks for any help anyone can give...
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Old 11-19-2011, 05:48 PM
 
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If everyone appealed their real estate tax, then more teachers would be laid off. Don't know where this is heading.
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Old 11-19-2011, 08:39 PM
 
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Originally Posted by Enolihi View Post
If everyone appealed their real estate tax, then more teachers would be laid off. Don't know where this is heading.
The appeals do nothing by themselves and in my county the appeals generate revenue.

By law, property must be properly assessed. If the Appeal Board grants a lower value it is to comply with the law.

Many will never appeal and for others, mostly those that bought and still own homes bought in the mid 2000's, the Assessor can nip the appeals in the bud by ensuring the values are correct.

Most all appeals that are granted are temporary and only apply to the year being appealed.

As mentioned, I believe my county is deliberately stone walling and delaying the process in an effort to keep more dollars rolling in.

Even in the event that everyone appealed... it would not release property owners from paying the full amount shown on their individuals bill and even if successful... the county has 2 years to act.

I'm knee deep in the process right now... the Assessor dismissed all the comparable sales in my area because they were distress sales... if the sum of the market is distress property, that is the market...
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Old 11-20-2011, 08:59 AM
 
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Cmarlin20, if you are doing the online “Decline-in-Value Request for Review”, then you do not have to attach any forms, yet when I did mine, I had the same question that you did, however I did not see any way to attach anything, on the online form, yet you have to enter the comp information in the form itself. But I would highly suggested that you keep your computer saved and or printed out comp information handy in a file, because you will probably need it again, if you opt to file a formal appeal, if they deny your “Decline-in-Value Request for Review”. I kept my information, because I specifically needed to have comps of sold homes between January 01, 2011 to March 31, 2011. I would imagine that requirement applies statewide.

I have not looked in detail at the formal appeal form that I am going to do in the next few days, so I don’t know if they have an option to do attachments on that document or not. Yet the filing deadline is November 30, 2011. I still do not see why they have a deadline, if you have to pay the full amount of your taxes anyway while they can take 1 1/2 to 2 years to provide their answer on the formal appeal. To me, you should be able to file an appeal anytime you want, for any tax year, as long as you have comps to backup your appeal

GREAT input Ultrarunner!
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Old 11-20-2011, 11:34 AM
 
1,976 posts, read 6,860,686 times
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Quote:
Originally Posted by Enolihi View Post
If everyone appealed their real estate tax, then more teachers would be laid off. Don't know where this is heading.
I find this difficult to digest. It is the law. Based on the same law, people who have bought their houses two generation back in La Canada, Beverly Hills and similar places are paying taxes on assessed value of ~$60,000 and still using the public schools. Where I am, we have Mello Roos tax paying for the school bonds and a lot of other stuff. My house has dropped $100K in value since I bought. Even if I paid the extra tax, how do I know it goes to our school's teachers. I would be happier to just write a check to the school directly.

FWIW my wife is a laid off teacher, but I don't think taxing random people who bought a house at the wrong time is the way to make up for this.
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