property taxes: How do I appeal the property taxes on my Mission Valley condo? - 07/09/11 10:51 AM

How do I appeal the property taxeson my Mission Valley condo?
If you believe that your Mission Valley condo property taxes are too high, you can file an assessment appeal, but you have to do it my November 30 at 5:00 p.m., or postmarked by midnight if you mail in your appeal.
You have to apply for an appeal by completing an application from available from the County Administration Center (picture at right), 1600 Pacific Highway, Room 402, in downtown San Diego (across from the Star of India). Applications can also be downloaded from the County's web site.
This is … (5 comments)

property taxes: Is there any way I can prevent my property tax from being reassessed when I move? - 12/19/10 02:41 PM

Is there any way I can prevent my property taxfrom being reassessed when I move?
Actually there is!
One way to do it is to keep the property in the family since there are certain exclusions if you can do that. The details in doing this way should be left up to your tax attorney, your CPA, and your financial planner. However, as a very general example, if your parents have owned a home for a couple of decades or so and they simply give the home to you, the property taxes would remain the same. Parents can often do … (3 comments)

property taxes: Real estate news — What if you disagree with your property tax? - 12/11/10 11:44 AM

What if you disagree with your property tax?
The amount of your property tax can be kind of tricky in California because tax valuations are done on January 1 of each year (even though the tax assessor's office is closed that day) but your tax is not due until the following property tax fiscal year.
Property tax fiscal years from from July 1 through the following June 30. This means that your January 1 valuation resulting in taxes to be paid on December 10 (first installment) and February 1 of the next year (second installment) could be grossly high in … (3 comments)

property taxes: Real estate news — How property taxes are calculated - 12/11/10 08:56 AM

How property taxes are calculated
Calculating property taxes is much easier than it was prior to the passage of Proposition 13 in 1978. At the time that Proposition 13 was passed, home prices were increasing rapidly, and tax valuations each year were pricing people out of their homes.
Without getting too technical, your initial property tax will be determined by the tax assessor based on the purchase price of the home. That initial property tax will include the general tax levy; special taxes; and any city, county, district, or state assessments.
Once that intial property tax is determined, Proposition 13 allows … (7 comments)

property taxes: Real estate news — Real property tax dates for California - 12/11/10 06:15 AM

Real property tax dates for California
Real property in California is taxed as of January 1 but is paid in the following fiscal year that runs from July 1 to June 30.
January 1Taxes become a lien on all taxable property.First day to file all claims (homeowners, veterans, and disabled veterans) for exemptions of real property.First day to file decline in value reassessment applications. February 1Second installment of real estate taxes is due. February 15Last day to file claims for exemptions of real property.Last day to file for homeowners' exemption. April 10Second installment of real estate taxes become delinquent.Annual payment … (5 comments)

property taxes: How to appeal your property taxes - 10/07/09 08:44 AM
There was a Letter to the Editor in the Monday, October 5, edition of the San Diego Union-Tribune about "creeping property taxes."
The letter writer was complaining because his property tax bill was up two percent. That's as it should be.
Now before you have a fit because you believe that the property tax should be down in accordance with real estate values being down, well, you are correct as well.
Here is what happens here in California:
With the passage of Proposition 13 by California voters in 1978, property taxes are limited to an increase of two percent annually. This … (9 comments)

property taxes: Property assessment scams exposed - 05/17/09 05:15 AM
The California State Attorney General's office filed suit in San Diego Superior Court against two companies that were offering to help homeowners reduce their property taxes. They were billing almost $200 for services "that were almost never performend and are available free of charge from local tax assessors."
If you believe that your home is curently overvalued, meaning that you are paying more taxes than you should, you can apply to have your home revalued and property taxes adjusted.
To get the application, go to sdarcc.com and look for the property tax relief link or call 858-505-6262 for information. Completed applications … (4 comments)

property taxes: How San Diego County property taxes work - 05/01/09 06:05 PM
I often get asked how property taxes work here in California,and although it's convoluted in one sense, it's actually pretty straightforward in another since 1978, when Proposition 13 was passed to bring property taxes under control after a period of skyrocketing prices like we saw in the early 2000s.
I know that each jurisdiction has a little flexibility, so I'm going to work with the maximum that is allowed under Proposition 13.
Let's assume that you bought a house last year and closed escrow on December 31, 2008, so we won't have to do any prorations for part of a year. … (9 comments)

property taxes: Second San Diego County property tax payment due April 10 - 04/03/09 01:21 PM
Because the price of real estate is so high here in San Diego, property owners get to split there property taxes into two payments, one due on December 10, and one due on April 10.
Personally, I think when those two dates were chosen, the people who did the choosing were not thinking clearly. We have to pay property taxes just days before Christmas and then again just days before paying federal and state personal income tax. Ah, well, no one's yet listened to my suggestion to move the dates.
So the second installment of property taxes is due April 10. … (6 comments)

property taxes: San Diego County property taxes to increase on most homes - 03/17/09 03:09 AM
Way back when I was just a teenager -- 1978 -- the citizens of California passed an initiative that limits property taxes. The initiative was called Proposition 13 and limits property tax increases to no more than 2% per year.
The purpose was to prevent governments from taking advantage of real estate booms, like we had from ca. 2000-2005, to increase property taxes so high that people had to sell their homes in order to pay the taxes. Prior to Proposition 13, many retired elderly were caught in the vicious booms that basically took away their homes because they couldn't pay … (3 comments)