Prop 8 allows for a "Decline-in-Value Reassessment" which needs to be supported by comparable property sales. The Assessor's Office is proactively revaluing properties downward (and many San Bernardino County residences were revalued) but individual homeowners are permitted to submit their own request for reassessment. The form can be found at their website at:
http://www.sbcounty.gov/assessmentappeals/
An appraisal by the homeowner is NOT required. You are permitted to justify your reason for requesting the lowered assessment by marking both boxes A. and I. in section 6 of the application for changed assessment. Box I indicates that you will be including an attached explanation which should be no more than two pages in length. This justification should be sales of similar property sales as close to January 1, 2007 as possible. Other counties indicate that sales can be in 2007 and no later than March 31, 2007 however the San Bernardino County Assessor's Office has not provided specific guidance as to whether early 2007 sales will be considered
If the Assessor's Office approves the Prop 8 reassessment, it is only valid for the one year period appealed. Subsequent years will normally require additional filings.
I am more than happy to assist local homeowners who may need assistance in identifying comparable sales for their areas. Remember - the deadline for submittal in San Bernardino County ends November 30, 2007!
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