Jon’s Tax Tip: Reassess your SD County Property Tax by 12/1/08!
If you purchased a home in SD in the past few years it is almost a certainty that you are paying too much on your property tax. They aren’t advertising it for obvious reasons, but San Diego county is currently reassessing homes at the owner’s request. Since the majority of all homes in SD County bought since 2004 are eligible for a reduction, this is something to check out.
There is a simple form to fill out and 3 comparable properties must be provided. Your real estate agent should be able to help with these figures. This doesnt mean that your particular home is worth what the comparables show, but with short sales in virtually every neighborhood you can use these distressed sales to justify a significant decline in ‘paper’ value for your own home. The county will most definitely push the appraisal back up when the market turns around, but for now this is a great way to save some serious bucks this year and to use the system to your advantage. I think we are all past being depressed about the market. It is time to get smart.