Do you think your home's value has gone down since you purchased it? There's a chance you should be paying a smaller property tax bill bill. About 90,000 properties in Santa Clara County have had their assessed value reduced for the 2009-2010 year. If you believe your assessed value is too high, you have until August 15th to seek a no-cost review. The online review process is the quickest way to accomplish this. Go to www.sccassessor.org/prop8 to complete the Prop 8 Decline in Value Request Form. You will be asked to provide at least 3 comparable sales as evidence of your property's value, and the sales should have been completed before and as close to Janurary 2009 as possible.
Ask your realtor for comparables or you can use the assesor office's own "Property Assessment Information System" at http://eservices.sccgov.org/arl/home.do to find records of properties' assessed values.
If by August 15th, it is determined by the assessor the market value is lower than the assessed value, then the new value will appear on your September annual property tax bill. If the assessor doesn't get to your request by the 15th, then you will still have until Sept. 15th to file a formal $30 assessment appeal hearing with the Clerk of Appeals Board (www.sccgov.org/portal/site/cob)
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