| How can the assessed
value of a property be changed after it is reduced?
The law allows it when the real estate market goes down.
The assessor is required to review the temporary Prop
8 value each lien date following the initial reduction.
It is called Proposition 8. The reduction in property
taxes lasts for as long as the market stays down.
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What happens if home prices increase again–higher
than when you started?
Nothing. Your property taxes will stay the low still.
The law in Proposition 13 protects against an increase,
except at the normal 2% increase per year that you already
see on your tax bill.
Should I continue to pay my current property
taxes?
Yes. Even if you are sure that your future payments
will be lowered, you must continue to pay your property
taxes to avoid liens and penalties.
What if I cannot qualify for a refinance?
Even if you can not refinince and lower your house payment,
cutting your property taxes is the alternative way to
lower your payments.
What about my home outside California?
Sorry, we only service properties located in California.
If I have been granted a reduction for the
current year will I have to request another review next
year?
No, once you have been granted a reduction pursuant
to Proposition 8 your next year's value will automatically
be reviewed. A Notification of Assessed Value will be
sent to you in July, which will indicate our findings.
Do properties other than single-family residences
qualify?
Yes, all real property qualifies.
Do you offer a referral bonus?
Yes! If you refer a friend or neighbour and once they
sign up for our service we will mail you a Visa $20
gift card. this program is very popular in new neighborhoods
where everyone may be overpaying their property taxes
but clients also often refer friends and family who
bought their home between 2003-2007. Click the referral
link on our website, enter contact information for yourself
and your friend.
Why isn't the reduction under Proposition 8
permanent?
Proposition 8 (now California State Revenue and Taxation
Code Section 51) requires the Assessor to compare each
property's Factored-Base-Year value with the current
market value, and enroll the lesser of the two each
year.
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