Attention Orange County Homeowners, It's not too late to utilize Proposition 8, a constitutional amendment that allows for a temporary reduction in assessed value when your property suffers a decline in value. If you purchased your home within the past six or seven years you are probably paying too much in property taxes. In our current real estate market the assessed value of your home may have considerably dropped. This could save you hundreds maybe even thousands of dollars on your tax bill.
To Be eligible you must demonstrate that on January 1st the market value of your property was less than its current value that you are being taxed at. The deadline for this year, for Orange County is March 30th! You must file the appropriate forms along with proof that the market value of your home has dropped.
Forms are available at the Assessor's website: www.ocgov.com/assessor/prop8and13.asp or
you can contact Tina Maraj Shah at 714-03-7901 or www.OCREByTina.com for assistance.
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