Property Tax Assessment

All Santa Clara Property owners should have received the Notification of Assessed Value card from Lawrence E. Stone, the Santa Clara County Assessor. 

Many properties have been assessed at a lower value based on the decrease of property values, however, not all properties have been adjusted.

If property owners feel that the market value of their property is lower than the assessed value on the notification card they can appeal the assessed value of their property.  It is important to know what the market value of the property is on January 1, 2009. 

What are the steps to take to appeal the assessed value:

• Go to the website of the Santa Clara County Assessor and download the proposition 8 form to request a temporary assessment relief or 
  
• Contact them at 408-299-5300 (Property valuations, Propositions 8), Email: RP@asr.sccgov.org, faxed, or personally dropped off at 70 West Heddings Street in San Jose.
  
• Gather evidence:  A property owner can gather evidence of lower market value by finding "comparable sales".  Comparable sales are properties which sold near the property within 90 days of the assessed date of January 1, 2009.  They should be similar in appearance, number of bedrooms, bathrooms, square footage, lot size, improvements such as additions, patios and pool, and quality.  It is helpful to calculate your property's price of living space per-square-foot and match them to the compared properties (patios and garages are not considered "living space").
  
• Comparable sales data can be found by your real estate professional or by going to the public records at the local assessors' office. These are usually available for free or a moderate fee.  
• Know the full address and/or assessor's parcel number for each property that is compared.
  
• File your appeal before August 15, 2009
  

Note: just because your property is assessed higher than your neighbor is not a valid reason to reduce the assessed value of your property.  

If you like help on this topic or are interested in properties in the South Bay you may contact me at anjakerstens@akerstens.com

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