Property Tax Assessment Part 4

 

Look for errors on your assessment

 

Annually, your tax assessor sends you a letter telling you what the assessed value of your home is. If the numbers make sense, it’s likely you won’t want to do anything. However, if you think your assessed value is lower than what the city has pegged it at, you may want to challenge it.

If you’re going to ask for a lower assessed value, the first place you’re going to look is the description of your property on the letter you received from the tax assessor. As an aside, if you don’t see the description on the letter, you can look online or go to the tax assessor’s office and look at your property tax card for the details.

With the rapid growth in home sales and prices over the last five years, it’s not uncommon for your local tax office to list an extra bathroom or add square footage to your property. And, since the tax assessor’s office does most of their work from the office, a lot of what they do is automated and software driven and not as a result of walking through your home.

If there are errors, identify what they are and then find a local real estate agent who can help you determine the real value for the changes that need to be made and even the total updated value for your home.

This info will be the foundation for your appeal.

 

Park Place Collective

Joe Costa Broker/Owner

Marni Wolf VP of Operations

400 West Broadway, Suite 400

San Diego, CA 92101

619-990-7552

www.parkplacecollective.com

Property Tax Assessment Part 3

 

Each municipality has an appeals process and you should familiarize yourself with it before you get started with your research and communication with your city’s tax assessor’s office. There will likely be a window as to when appeals can be submitted with a deadline for the last time an appeal will be accepted.

There should be information on your local assessor’s website on how to complete the whole process. Absent that, you might have to call the assessor’s office and get the details.

There’s no bad reason to challenge your assessed value — though after a renovation or a recent purchase are best — so don’t be afraid to give it a go.

Park Place Collective

Joe Costa Broker/Owner

Marni Wolf VP of Operations

400 West Broadway, Suite 400

San Diego, CA 92101

619-990-7552

www.parkplacecollective.com

Property Tax Assessment Part 2

 Here’s what you need to know up front: appealing the assessment of your property’s value isn’t particularly enjoyable, nor will it guarantee that your taxes go down. In fact, once you go through the process, you could find your property’s actual market value is actually higher than the current assessment, triggering a higher tax payment.

Filing an appeal is often free and doesn’t require you to jump through a lot of hoops to execute. Ideally, with just a little time invested and some good investigative work, you could actually lower your tax assessment and subsequently, your taxes in the process.

What’s even better, a reduction in your tax assessment value could lead to you saving a bunch of money over the near and long term. As well, if you are thorough in doing your research and get great back up to make your case for a lower assessment, you might also be able to request a refund for overpaid property taxes from previous years.

That's the best case scenario, however, and not something you should expect.

Park Place Collective

Joe Costa Broker/Owner

Marni Wolf/ VP Operations

402 West Broadway, Suite 400

San Diego, CA 92101

619-990-7552

www.parkplacecollective.com

Property Tax Assessment Part 1

 An increase in home values is great because it increases the equity in your home without you having to invest more money in making it happen.

Unfortunately, as the price of your home increases, so does the perceived value of your home in the eyes of your local tax assessor.

When that happens, your taxes also go up.

The bad news is that your tax rate - the annual percentage of your home’s value that you pay - is fixed by the state and/or municipality in which you live and not able to be negotiated.

The good news, though, is that you can appeal the assessed value of your home in an effort to reduce the total amount that you pay.

Park Place Collective 

619.99.7552

www.parkplacecollective.com

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Good credit is one of the most important parts of getting a home loan. The higher your credit score, the more likely you are to get a lower interest rate. DM us to learn more.

Park Place Collective

Joe Costa Broker/Owner

Marni Wolf/VP of Operations

402 West Broadway 

Suite 400

San Diego, CA 92101

619-990-7552

www.parkplacecollective.com

Happy New Year 2025

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Wishing you a prosperous and joyful 2025 filled with new opportunities, success, and happiness. We're excited to continue serving you in the year ahead.

 

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From being part of a community to establishing financial predictability and building equity, buying your home instead of renting can be a great option for creating long-term stability. Take the first step by giving us a call today!

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Park Place Collective

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Park Place Collective

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info@parkplacecollective.com

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