Foothill Ranch Property Tax Reduction Guide
TOTAL NET TAXABLE VALUE: If you purchased a home in Foothill Ranch between 2003 and 2008 it is quite likely that the tax assessed value of your home is greater than it's current market value and you may be eligible for a reduction in property taxes. Check your most recent tax bill for the current assessed value of your home (this can be found in the upper right hand corner of your property tax bill as depicted to the right) or you can perform a Property Tax Lookup online to access the current assessed value of your home. If the Total Net Taxable Value is greater than what you feel the current market value to be then you should investigate further. There are two ways to appeal assessed value in Orange County:
1. FILE AN ASSESSMENT APPEAL (available from July 2nd to September 15th of each year).
2. REQUEST FOR INFORMAL ASSESSMENT REVIEW (available from January 1st to April 30th each year). I recommend trying option 2 (Request For Informal Assessment Review) first and the balance of this post deals with how to proceed with an Informal Assessment Review. It is much less involved and will not require the time and resources from you that a formal Assessment Appeal does. If the informal review does not work you will always have the option of a formal appeal open to you later in the year (between July 2nd and September 15th).
EVIDENCE TO SUPPORT A LOWER OPINION OF VALUE: Start by reviewing comparable sales with sale dates not later than March 31st of the same calendar year; this will be your evidence to support a lower value. I am happy to provide comparables to anyone in Foothill Ranch for this purpose. Choosing the comparables wisely can be the key to success. Sold comparables are far more powerful and compelling than active listings (which may or may not sell at current list price). Once the comparables have been selected and you remain confident that the assessed value is too high a Request For Informal Assessment Review form should be completed and submitted to the Orange County Assessor.
There is no charge to file a request to have your property value reviewed by the Assessor
The filing period for Informal Assessment Reviews is January 1 to April 30, 2011.
The Assessor will consider the market value of property as of January 1, 2011 (lien date).
Prior tax years cannot be reviewed.
Choose the form for your property type. Be sure to provide accurate and complete information.
Single-Family, Condo, Townhouse
- Print the completed form and mail it to:
Orange County Assessor
Attention: Real Property
P. O. Box 22000
Santa Ana, CA 92702-2000
This is an informal request for review.
The Assessor will send you a Value Notice in July. The notice will show the Taxable Value determined by the Assessor's review.
The Taxable Value will be used to calculate your taxes due in December of this year and April of next year.
This is not a formal assessment appeal. A formal assessment appeal may be filed with the Clerk of the Assessment Appeals Board between July 2 and no later than September 15.
Please contact me if you need additional assistance or Foothill Ranch sold comparables.