Tax FAQ
 

How Does One Appeal Property Appraisal For Tax Purposes?

Question by Fedora girl | Posted in Renting & Real Estate

We bought a domicile in June '07, and the county is assessing property values to determine tax changes in 2008. They sent us a strictly saying our property value was a certain number. That is $20,000 more than we paid! The hike in property taxes would be 40%.
We don't cogitate on it's fair to mark our property that high within 4 months of our buying it. I've checked comps on diversified web sites, and they are all lower than county assessment.
What can documents can we produce to appeal?

Answer: Indite a letter to the Assessors' Department that determined the assessment value explaining that it was higher than what you paid and with the copies of resident comparable comps. Give them 10 days to respond. If you receive no response, the horn the Supervising Assessor to question about the status of your letter's request to lower the value. Witter on about b hold out them accountable to provide detailed proof to justify their estimated value.

Often appraisers do a 'send by'
 
 

Is My Property Tax Increase Reasonable?

Question by farm-gal | Posted in Renting & Real Estate

We received our 2007 county property tax appraisal in the send. We live in a 1960 brick veneer ranch style home (1,900 just feet) and have made no significant improvements since we bought the house last year. In fact, we had a torrent storm that beat up our trees, metal shed and carport. The land is not ours, we hire out it from the city. Only the house is ours. There has been virtually no new construction in our area and there are hundreds of properties for garage sale in our city (crappy job

Answer: go talk to your community assessor. there is a proceedure to appeal.

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Los Angeles County Tax Assessor
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County Tax Assessor Office

 
 

Is A Property Tax Valuation On A Home Equal To An Appraisal Of The Home's Worth?

Question by canada | Posted in Renting & Real Estate

When the county assesses property taxes for a refuge, is their estimate of what the home is worth actually a "free" appraisal of what the selling sacrifice should be?

Answer: Completely not. Tax assessed value has NOTHING to do with real market value. I have a listing that is priced $100,000 under tax assessed value and it is still a bit overpriced.

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Calculating Income Tax
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So, Why Does The County Real Estate Property Appraisal Continue To Go Up & The Bank Appraisal Value Goes Down?

Question by Sara | Posted in Renting & Real Estate

So the management plans on collecting the same or more tax money? They are not lowering real estate property appraisal values.

Answer: County assessments are as of a specified date. Usually January 1st of each year. Your January 1, 2008 assessment does not on the downturn in the market. Check with you tax assessor's office and discuss your assessment. There should be an coordination based on the January 1, 2009 market.

realtor.sailor

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Probate Tax
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Property Appraisal Higher Than Purchased Price?

Question by kenny_frohlich | Posted in Renting & Real Estate

We bought a homestead in Houston three months ago for $169K. After the purchase, we sent in a request to the County Tax office to transport the property to our names. Today, we check the County Tax office website and find out that the property has been transfered to our names. However, the appraisal of our property is shown at $179K. Can we grumble the appraisal from the County Tax office by showing them our purchased price? By the way, the tax value of this property was $162K the last two years.

Answer: I'm not inevitable if you are not looking at a double edged sword on this one.

One side will lower your tax liability but the other side builds imperative equity for you and you are in a better position if and when you decide to refinance and or sell the property.

In the future, appraisers will take or can take into backsheesh the tax assessed value, as a means of attaching a value to your home.

Just some nourishment for thought.

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Calculate Property Tax
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