For those of you who are in a higher tax assesment than your market value (as of jan 31, 2010) file the "Decline-in-Value" form with your county assesor.
Deadline for Los Angeles County is November 31, 2011. Submit asap. For details and more you can visit http://www.housesinshermanoaks.com/declineinvalue.html.
Contact me if you have questions. Sorry for the short post. I have a meeting starting, but the info is at the link.
There are opportunities to appeal rejections, but I've also heard horror stories fo payments jumping up. So only submit if you're way over!!! This has helped many people.