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Property Tax Relief and Scam Alert.
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Property Tax Relief and Scam Alert
GREGORY J. SMITH
SAN DIEGO COUNTY ASSESSOR
1600 PACIFIC HIGHWAY, ROOM 103
SAN DIEGO CALIFORNIA 92101-2480
TELEPHONE (858) 505-6262
PROPERTY TAX RELIEF
County Assessor, Gregory J. Smith, wishes to notify property owners that
tax relief is available if their property’s market value has fallen
below its assessed value. Your property’s assessed value is shown
in the upper right hand corner of your current tax bill. For all practical
purposes, this only affects those proper owners who purchased their property
at the height of the current real estate market.
Under State law, (Proposition 8) a temporary reduction in assessed value
can be made when the market value falls below the assessed value. Once
reduced, the Assessor’s Office must then annually review the value
of the property. When the property values increase, the assessed value
will also be increased but no higher than the original assessed value
(plus the annual CPI increase, not to exceed 2%, as required by Proposition
13).
Property owners who believe their property’s market value has fallen
below its assessed value should file an Application for Review of Assessment
with the Assessor’s Office as soon as possible but no later
than May 30, 2008. They should provide their opinion of value
and supporting documentation, such as comparable sales, current listings,
or a recent appraisal. For apartments or other income-producing property,
income and expense information should also be provided. This application
is available on the Assessor’s Web site at www.sdarcccom,
in all the Assessor’s branch offices, or by phoning the Assessor’s
Office at (858) 505-6262. When complete, please return the application
to Gregory J. Smith, County Assessor, 1600 Pacific Highway. Room 103,
San Diego, CA 92101.
Property owners who apply for this temporary reduction will be notified
in early Jul of the results of their request. If they still disagree with
the value, a fonnal assessment appeal process is available. This application
must be filed with the Clerk of the Assessment Appeals Board between July
2 and November 30.
Scam Alert: Mr. Smith also
wishes to alert the public that numerous private businesses and individuals
are currently mailing solicitations to property owners offering their
assistance in this process for a fee. While property owners are certainly
at liberty to use these private companies, they can apply for
this reduction themselves at absolutely no cost by simply
filing the application with the Assessor’s Office by May 30.
If you have additional questions,
contact your Mortgage / Real Estate professional today at 858-404-7300
option 2.
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