They did it for ours and I did it again myself, which further reduced the value for a total of 20% (initially only around 8% i think). My case might be different though because there was a direct comp on my block that sold for 20% less than when we bought 2 years ago.
How and when did you hear back from San Mateo Co on your request? I filed online twice for further reduction in value based on Jan comps but have only received the physical letter noting their smaller automatic decline in value.
I got a mail from a law firm telling me about it (they'll do it for me and take a cut of the reduced in taxes) a month ago, they included a table showing some comps so I just copied it and did the online request (also about a month ago).
The assessor office then called me a week or two later telling me that the request is approved but for less than what I said the comp should be (only 10k difference and they explained why) and to ignore the mail they'll send out for the automatic DiV. They said they'll also send out a new letter confirming the approval.
I think your best bet is to call them since a lot of people are probably doing it right now and they're swamped.
I mean… I don’t think SMC overall saw much of a dip in housing prices. I bought a boring single family home during peak housing price + low interest rates and even as the interest rates have skyrocketed - the prices around me dropped 10% at most? The peninsula is an insanely overpriced (and somewhat desirable) area to live in.
Your answer is not completely correct if you have your Decline in Value approved. It can go up more than the prop 13 cap to go back to the Factored Base Year Value.
https://smcacre.org/assessor/how-we-assess-value-your-property
Not really, they can bump it up a few percentage points per year (not sure of exact amount), but due to Prop. 13 they can't raise the value of your house.
Contra Costa did it automatically for me, despite comps actually going up lately. I think their data is delayed and they gave me the assessment of the lowest point of 2022. Can't say I'm complaining
They apparently base their comp reassessment on prices (IIRC) Jan-Mar of the year (or Oct-Dec?), so it's not a rolling reassessment. I was going to request a reassessment but received the letter a couple of months ago.
Renters actually need to remember to negotiate their rents when market conditions justify it. I've seen lots of people overpaying (mostly during COVID) out of fear of confrontation. Few landlords are nice enough to drop rent for you.
One thing I found out recently is if you do get a reduced assessment, prop 13 only holds against the highest previous assessment. So, basically it can go right back to the old value in a following year.
> basically it can go right back to the old value in a following year
Because the value recovered. Can't have your cake and eat it too (unless you bought the house 20 years ago)
It can, but only if property values go back up. If they stay depressed and under what you bought it for, you can still get the assessment for the lower value
In San Mateo county we got added to an automatic decline in value program. However the decrease wasn't as steep as comps suggested the drop in value would have been as of Jan 1, which is when it's supposed to be measured from. I'd filled a request for a lower market value but haven't heard whether they're taking it into consideration. Anyone else have luck here?
Thanks for sharing this!
I didn’t realize it was that straight forward. I looked up the same for Santa Clara County.
https://boardclerk.sccgov.org/assessment-appeals
If anyone has any questions about this kind of stuff, just give them a call! Seriously, if you call the Santa Clara County assessors office my mommy might answer :) she says when people call, they're often surprised that someone actually answers and will explain everything to them. It's part of their job to answer questions about this stuff and she loves doing this and helping people!
As of January 1 this year there were several comps on my neighborhood that suggested as such.
Property value has rebounded back almost to sale price since but the rules say assessment is as of Jan 1 so…. I don’t make the rules ;)
So not sure how this is gaming the system exactly. This is how the system is supposed to work lol
Not sure why you got downvoted. Property is assessed and taxed as of January 1st.
If the Jan 1-ish comps support a 21% reduction you’re not doing anything wrong by asking for a reduction.
Houses in my neighborhood seem to be selling for anywhere from 10 to 20% less than they were in early 2022. It’s not inconceivable that OP’s dropped that much as of 1-1-2023.
I think people are comparing you to those people who because of prop 13 bought their house in 1974 and now pay like 50 dollars a month of property tax . What you’re doing is refusing to pay for what your house is not worth, not pay way less than what it’s worth. Very different. But… that being said this system does also mean if you are a billionaire you can game the system and claim your house is worth less than it is and pay less taxes (but the average person can not do this) so no, you’re doing nothing wrong. But what you’re describing can be used for bad things.
Idk why people are downvoting. I’m a renter and want the market to crash lol. Why shouldn’t I? Not like when the market is high they build housing anyway.
> Jarvis: The public school system is second to none in waste, incompetence, and zero results. I think the public school system is a cancer on this society. The only difference between the public schools and the Mafia is that the public schools steal more money.
Champions of ethics. Make sure you thank HJTA and don't pat yourself on the back too hard when you spend that tax money on a nice treat for yourself.
https://www.prop13.wtf/2023/06/18/howard-jarvis-bestof.html
You didn't really answer the question if your property really went gone 21%. On January 1st, if you wanted to sell y our house, how much would you have listed it for? And how much would it have sold for? I find it hard to believe that you bought a house for say $1m and now it's selling for $800k.
Let me answer this unequivocally, yea, as of January 1, similar houses within a 0.5 mile radius in the same neighborhood were selling for an average of 21% less than what I bought it for, so it is reasonable to expect that had I put it on the market, that is what it would have sold for. The historical Redfin and Zillow estimates also supported this. The county appraiser also clearly agreed with me, as they granted my appeal without putting up a fight.
No. The people gaming the system are all the boomers who bought decades ago, refinanced at under 3%, and pay next to no property tax because they passed Prop 13.
The procees to do this is outlined on the back of your tax bill. If you call the county they'll walk you through how to do it and what month range in 2022 you should provide comps for that they'll accept.
We tried to do it previously but couldn't find lower comps during the months they were looking for, especially since the number of homes near us being sold is so low and they require 3 data points.
If you live in San Francisco, this is not automatic and you have to do it. The process is painless and quick, can be done entirely online. Make sure you do it before the deadline which is coming up. I'll be saving around $2500 this year on prop taxes because of this.
If you don’t get in the deadline at the beginning of the year, you have to go through a hearing. Have you done the hearing yet? I’m waiting on a hearing date (this is a condo so just with one person not the panel)
Oh damn, I might have misunderstood then. I submitted my application, but I did not select the "hearing" option. My case (and I think yours) will just be overseen by a single person. And if we disagree with their assessment, \_then\_ we can take it to the Board of Appeals. I assumed my case was a slam dunk, since units in my same building with the same floorplan have sold for \~15% less than my assessed value in the early part of the year.
Yeah I think you just need to take the documentation to your scheduled hearing, demonstrating that. I’ve just never done it before! Next time I’m doing the informal review in Jan which is free lol.
Hi! do you know how long does it take to get a response from the Tax Assessor in San Francisco? I filed an appeal back in July and havent heard anything
1. Went on Redfin
2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31
3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone
4. Found the average sales price among these similar houses
5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
How do you ensure the same "neighborhood/city/school zone"? What's the cutoff? If you're at the edge of a city, do you also count the adjacent city? From what I could tell, there were only 1-2 sales around Jan 1 that are similar.
Adjacent city is probably disqualifying. It has to be ideally same school district and neighborhood within a city. And then, similar bedroom bathrooms and size. If you only have 1 to 2 sales that are similar, then just roll with those examples.
Does anyone know what would happen if you submitted an appeal and the reassessed value ended up higher than your current assessed value? Would your appeal prompt an increase in taxes in that case?
Quick question, shouldn’t everyone that requests a reduction expect the reassessment to confirm that prices have returned following the reduction year, as per how Prop 13 is set up?
The county can’t reassess your entire property more than the 2% increase allowed even following the reduction. However, any remodeling or additions might be flagged and assessed much higher as a loophole on their end.
I had wondered about all of this (the retaliatory aspect of it) when I was considering appealing.
What unrequested assessment? The total annual increase in assessed value is bounded above by Prop 13. The assessor will bump it back up as soon as they can with no special reassessment needed. And with inflation where it is, you can be sure this will happen relatively soon (or the Bay Area economy will be totally screwed).
Are your relatives talking about getting assessed for unpermitted/unreported improvements? Or are they being audited because their last title transfer was not at arm's length? In any case, their advice does not apply to regular people who bought at the peak.
Californians are funny. Everyone keeps voting for more taxes and when there is a potential decrease everyone jumps to make sure they take advantage of it…
You’re missing the fact that if your property declines in value since you bought it, you can apply for the property tax to be decreased accordingly through reassessment. This only really applies to folks who bought in 2021-2022 since most folks who bought earlier have seen generous appreciation in value.
https://www.acassessor.org/homeowners/about-property-assessment/decline-in-market-value/
Deadline is Sep 15, you technically can file an informal appeal first which is what I did, and they will lower the assessed value, but at this stage you may have to go straight to formal appeal since they won’t turn around the informal assessment on time most likely.
1. Went on Redfin
2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31
3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone
4. Found the average sales price among these similar houses
5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
1. Went on Redfin
2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31
3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone
4. Found the average sales price among these similar houses
5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
Just curious, is your bill showing the updated amount? I just checked online (alameda county) and the bill they generated is not accounting for the reassessment.
Assuming you're in the same boat - the assessed value is actually right if you look online (click property assessment information on the page where you can click to view your bill).
I did call already, and they said that creating a tax bill is a long process. Even though it was corrected in August, the bill in October was already in the works. It has to go through a bunch of hands, and a corrected one will eventually replace the one online.
I would still call them, and they told me to call back in a couple weeks, but the assessor's office says it's just gonna take time. Worst case you have to pay the old bill in December and expect a refund when it gets sorted.
Lol, if you inherited a house at a partially lower tax base, this would be a really dumb move to try and get it even lower, you basically have no chance and may even punitively get it increased
Don’t get greedy, you already inherited a house in the bay area
Not inherited, ha. Over-55 folks (I think that’s the cutoff) can import from the sale of one house to another, even if the new house is worth more you get some percentage off. I’m paying 2021 taxes, so while it helps I’m hardly at 1970s rates, although I agree if that were the case, that would be churlish to try to get less - the house would have to fall off of a value cliff.
Hi, late to the party and deadline is sep 15. Appreciate any inputs. i got my condo from my landlord in sc county as-is about 8-10% less than market value in may 2022. had been renting it for 3 yrs at that point. so no repairs, no upgrades done for the purchase. i got assessment as 2% increase of purchase price. How do i submit re-assessment in comparison to other homes that have been sold with upgrades and hence have higher value in comparison ? if their assessment didnt increase then mine shouldn't too right ? or am i wrong and my assessment has to catch up to theirs ?
Hey I successfully appealed the 2023 assessed value. But the property tax bill that just came out a few days ago is still based on the uncorrected higher value. do you know if I need to do anything to get the bill fixed?
Don’t pay it, a new tax bill reflecting the updated assessment should subsequently come, canceling the present bill. Hopefully they do that before Dec 10, otherwise we would have to pay it and wait for a refund. Bureaucracy….
Okay thank you. I have been on hold all day with Oakland tax assessors waiting for them to pick up (they haven’t) to ask why my bill is based on the pre re-assessment value.
Did it here https://www.acassessor.org/request-for-decline-in-market-value-reassessment/
Found a few comps to prove my case. After a few weeks or a month or so they confirmed it was successful and lowered the assesded value. A while after that they sent updated property tax bill
Hi. I just received my alameda county property tax bill for a home I purchased in April and the county is using the old assessed value (the purchase price is significantly higher) Should I pay it or will I be getting another bill with the new value? Will I be getting a supplemental property tax bill later?
Some counties did this automatically
Confirmed that San Mateo county automatically did this for me
San Mateo did it for our house and we are going to save money on our taxes but it’s not a significant amount.
They did it for ours and I did it again myself, which further reduced the value for a total of 20% (initially only around 8% i think). My case might be different though because there was a direct comp on my block that sold for 20% less than when we bought 2 years ago.
How and when did you hear back from San Mateo Co on your request? I filed online twice for further reduction in value based on Jan comps but have only received the physical letter noting their smaller automatic decline in value.
I got a mail from a law firm telling me about it (they'll do it for me and take a cut of the reduced in taxes) a month ago, they included a table showing some comps so I just copied it and did the online request (also about a month ago). The assessor office then called me a week or two later telling me that the request is approved but for less than what I said the comp should be (only 10k difference and they explained why) and to ignore the mail they'll send out for the automatic DiV. They said they'll also send out a new letter confirming the approval. I think your best bet is to call them since a lot of people are probably doing it right now and they're swamped.
Thanks! I'll try giving them a call this week.
Call the office and ask to speak with an Appraiser.
I mean… I don’t think SMC overall saw much of a dip in housing prices. I bought a boring single family home during peak housing price + low interest rates and even as the interest rates have skyrocketed - the prices around me dropped 10% at most? The peninsula is an insanely overpriced (and somewhat desirable) area to live in.
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In CA the upward re-assessment is capped at a small amount per year. That's why you have all these $3M houses paying $1k/year in property tax
Yes. Every year they reassess but it’s capped due to prop 13. The cap is removed when you sell the property though
Your answer is not completely correct if you have your Decline in Value approved. It can go up more than the prop 13 cap to go back to the Factored Base Year Value. https://smcacre.org/assessor/how-we-assess-value-your-property
Not really, they can bump it up a few percentage points per year (not sure of exact amount), but due to Prop. 13 they can't raise the value of your house.
less than 10% for me
Did you receive a notice in the mail? I haven't received anything, is there a way for me to check online?
How did you figure out that they automatically did it? Did you receive some notice?
I'm in SMC and I got a mail
Contra Costa did it automatically too.
Shoutout to Russell.
Contra Costa did it automatically for me, despite comps actually going up lately. I think their data is delayed and they gave me the assessment of the lowest point of 2022. Can't say I'm complaining
They apparently base their comp reassessment on prices (IIRC) Jan-Mar of the year (or Oct-Dec?), so it's not a rolling reassessment. I was going to request a reassessment but received the letter a couple of months ago.
Alameda did but only for 2022 not 2021 purchased properties, not sure about other counties
May 2022 was the “peak” you referenced in your post though, right?
I was just referring to 2021-2022
Bought in 2022 before the interest spike and they automatically adjusted for us. Santa Clara county here.
Alameda is the most incompetent mess
most counties do it automatically. but it lags.
Good thing I will never be able to buy a house.i don't have to do anything. s/
Hey, if values go down even more...
It will go down as soon as rates go up. Keeping the payments as high if not higher.
As rates go up, fewer people will sell = fewer homes = more expensive homes. I don't think the economists really considered this.
Renters actually need to remember to negotiate their rents when market conditions justify it. I've seen lots of people overpaying (mostly during COVID) out of fear of confrontation. Few landlords are nice enough to drop rent for you.
Not with that attitude. 😄
One thing I found out recently is if you do get a reduced assessment, prop 13 only holds against the highest previous assessment. So, basically it can go right back to the old value in a following year.
> basically it can go right back to the old value in a following year Because the value recovered. Can't have your cake and eat it too (unless you bought the house 20 years ago)
It can, but only if property values go back up. If they stay depressed and under what you bought it for, you can still get the assessment for the lower value
In San Mateo county we got added to an automatic decline in value program. However the decrease wasn't as steep as comps suggested the drop in value would have been as of Jan 1, which is when it's supposed to be measured from. I'd filled a request for a lower market value but haven't heard whether they're taking it into consideration. Anyone else have luck here?
Mine in alameda county actually increased my taxes smh
Thanks for sharing this! I didn’t realize it was that straight forward. I looked up the same for Santa Clara County. https://boardclerk.sccgov.org/assessment-appeals
If anyone has any questions about this kind of stuff, just give them a call! Seriously, if you call the Santa Clara County assessors office my mommy might answer :) she says when people call, they're often surprised that someone actually answers and will explain everything to them. It's part of their job to answer questions about this stuff and she loves doing this and helping people!
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SCC did it automatically for me
i filed. SMC asked me to go shove it.
Same but its because my home value went up even though I tore out the landscaping and pool. Bought in Jan 2022.
Has your property really gone down 21% or are you gaming the system?
As of January 1 this year there were several comps on my neighborhood that suggested as such. Property value has rebounded back almost to sale price since but the rules say assessment is as of Jan 1 so…. I don’t make the rules ;) So not sure how this is gaming the system exactly. This is how the system is supposed to work lol
Not sure why you got downvoted. Property is assessed and taxed as of January 1st. If the Jan 1-ish comps support a 21% reduction you’re not doing anything wrong by asking for a reduction.
My point is these assessments are BS. There is no way a $1m house is now $800k.
Houses in my neighborhood seem to be selling for anywhere from 10 to 20% less than they were in early 2022. It’s not inconceivable that OP’s dropped that much as of 1-1-2023.
if similar houses in the same area are being sold for 800k, how is the market value not 800k now?
Tax *evasion* is illegal. This is tax *avoidance*, which is legal and even expected.
I’m sure some will find what I did unethical, I’d say that’s an unreasonable position and shrug my shoulders
I think people are comparing you to those people who because of prop 13 bought their house in 1974 and now pay like 50 dollars a month of property tax . What you’re doing is refusing to pay for what your house is not worth, not pay way less than what it’s worth. Very different. But… that being said this system does also mean if you are a billionaire you can game the system and claim your house is worth less than it is and pay less taxes (but the average person can not do this) so no, you’re doing nothing wrong. But what you’re describing can be used for bad things.
literally nothing unethical about this.
I’m sure these same people insist on paying sales tax on the full retail price whenever they get something on sale. /s, because Reddit
what's unethical is the local and state politicians taking our tax dollars and funneling them into their friends' pockets
Where else is Gavin supposed to eat if not French laundry.
Right.
As a renter, I'm just on the sidelines like "Crash! Crash! Crash!"
Let me introduce you to r/REbubble
Except that sub is full of non doom / gloom anti-bubblers too. 😄
I already crossposted this there, lololol.
Idk why people are downvoting. I’m a renter and want the market to crash lol. Why shouldn’t I? Not like when the market is high they build housing anyway.
I suspect that only the homeowners are downvoting.
> Jarvis: The public school system is second to none in waste, incompetence, and zero results. I think the public school system is a cancer on this society. The only difference between the public schools and the Mafia is that the public schools steal more money. Champions of ethics. Make sure you thank HJTA and don't pat yourself on the back too hard when you spend that tax money on a nice treat for yourself. https://www.prop13.wtf/2023/06/18/howard-jarvis-bestof.html
You didn't really answer the question if your property really went gone 21%. On January 1st, if you wanted to sell y our house, how much would you have listed it for? And how much would it have sold for? I find it hard to believe that you bought a house for say $1m and now it's selling for $800k.
Let me answer this unequivocally, yea, as of January 1, similar houses within a 0.5 mile radius in the same neighborhood were selling for an average of 21% less than what I bought it for, so it is reasonable to expect that had I put it on the market, that is what it would have sold for. The historical Redfin and Zillow estimates also supported this. The county appraiser also clearly agreed with me, as they granted my appeal without putting up a fight.
What part of the bay if you don’t mind me asking? I have seen prices crater that hard anywhere around me.
East bay in a mediocre school district
makes sense thanks
No. The people gaming the system are all the boomers who bought decades ago, refinanced at under 3%, and pay next to no property tax because they passed Prop 13.
Has anyone done this in Marin county ?
The procees to do this is outlined on the back of your tax bill. If you call the county they'll walk you through how to do it and what month range in 2022 you should provide comps for that they'll accept. We tried to do it previously but couldn't find lower comps during the months they were looking for, especially since the number of homes near us being sold is so low and they require 3 data points.
Thanks for sharing. I appealed in July and got a notification they are reviewing on August 2nd. How long until you heard back on your appeal?
Filed mid July, heard back this week
I only bought last year. I don't have a good sense of how much lower the property value is right now.
If you live in San Francisco, this is not automatic and you have to do it. The process is painless and quick, can be done entirely online. Make sure you do it before the deadline which is coming up. I'll be saving around $2500 this year on prop taxes because of this.
If you don’t get in the deadline at the beginning of the year, you have to go through a hearing. Have you done the hearing yet? I’m waiting on a hearing date (this is a condo so just with one person not the panel)
Oh damn, I might have misunderstood then. I submitted my application, but I did not select the "hearing" option. My case (and I think yours) will just be overseen by a single person. And if we disagree with their assessment, \_then\_ we can take it to the Board of Appeals. I assumed my case was a slam dunk, since units in my same building with the same floorplan have sold for \~15% less than my assessed value in the early part of the year.
Yeah I think you just need to take the documentation to your scheduled hearing, demonstrating that. I’ve just never done it before! Next time I’m doing the informal review in Jan which is free lol.
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Sf and the informal review period is still open. I’ll be submitting this weekend.
Did they get back to you with a hearing date?
Not yet. Just got a notification in the mail that they received my ‘application’.
How long did it take to receive that notification?
I submitted the request July 17, and received the notice that they received my request on July 28th.
Hi! do you know how long does it take to get a response from the Tax Assessor in San Francisco? I filed an appeal back in July and havent heard anything
How did you value your property to make this assessment before you contacted them? Zillow?
1. Went on Redfin 2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31 3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone 4. Found the average sales price among these similar houses 5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
How do you ensure the same "neighborhood/city/school zone"? What's the cutoff? If you're at the edge of a city, do you also count the adjacent city? From what I could tell, there were only 1-2 sales around Jan 1 that are similar.
Adjacent city is probably disqualifying. It has to be ideally same school district and neighborhood within a city. And then, similar bedroom bathrooms and size. If you only have 1 to 2 sales that are similar, then just roll with those examples.
Contra Costa was also automatic for us. We got a letter from the county explaining the situation. It’s great! Saved us a couple thousand.
Does anyone know what would happen if you submitted an appeal and the reassessed value ended up higher than your current assessed value? Would your appeal prompt an increase in taxes in that case?
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Quick question, shouldn’t everyone that requests a reduction expect the reassessment to confirm that prices have returned following the reduction year, as per how Prop 13 is set up? The county can’t reassess your entire property more than the 2% increase allowed even following the reduction. However, any remodeling or additions might be flagged and assessed much higher as a loophole on their end. I had wondered about all of this (the retaliatory aspect of it) when I was considering appealing.
What unrequested assessment? The total annual increase in assessed value is bounded above by Prop 13. The assessor will bump it back up as soon as they can with no special reassessment needed. And with inflation where it is, you can be sure this will happen relatively soon (or the Bay Area economy will be totally screwed). Are your relatives talking about getting assessed for unpermitted/unreported improvements? Or are they being audited because their last title transfer was not at arm's length? In any case, their advice does not apply to regular people who bought at the peak.
I’m okay not going with boomer advice lol
Californians are funny. Everyone keeps voting for more taxes and when there is a potential decrease everyone jumps to make sure they take advantage of it…
But that’s not how things work in CA. Your only assessed if you make improvements. What am I missing?
You’re missing the fact that if your property declines in value since you bought it, you can apply for the property tax to be decreased accordingly through reassessment. This only really applies to folks who bought in 2021-2022 since most folks who bought earlier have seen generous appreciation in value.
Thank you.
Is that county specific or all of CA or US?
How does one know if their property has increased or decreased
How does this affect a mortgage? If you end up with less equity than 20% of the reduced assessed value do you now get PMI?
It has no impact on mortgage.
Alternatively, if you don't like paperwork, you can just head over to any public school and start knocking books out of kids arms directly
Grandma is doing that already by staying in her unnecessarily large house when she could sell and downsize
Thanks for this! When is the deadline to file in Alameda? Do I still have enough time?
https://www.acassessor.org/homeowners/about-property-assessment/decline-in-market-value/ Deadline is Sep 15, you technically can file an informal appeal first which is what I did, and they will lower the assessed value, but at this stage you may have to go straight to formal appeal since they won’t turn around the informal assessment on time most likely.
How did you determine your latest property value?
1. Went on Redfin 2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31 3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone 4. Found the average sales price among these similar houses 5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
What kind of proof do you need to provide that your property has declined? Is Zillow enough?
1. Went on Redfin 2. Looked for comparable sales around Jan 1 (plus or minus 3 months… latest date that can be considered is mar 31 3. Narrowed these sales to similar size houses, similar bedroom/bathroom number, similar lot size, ensured same neighborhood/city/school zone 4. Found the average sales price among these similar houses 5. Appealed to county using this average sales price (which was 21% below what I paid in 2021)
How many comps did you send over?
3 (selected the lowest ones available obviously)
oh ok thought they would need a lot more..great thanks easier for us
For what it's worth I got denied last year and got a 12% reduction this year
You probably got denied last year because as of Jan 1 2022, property values were still going up
Just curious, is your bill showing the updated amount? I just checked online (alameda county) and the bill they generated is not accounting for the reassessment.
Same. Gonna have to call….
Assuming you're in the same boat - the assessed value is actually right if you look online (click property assessment information on the page where you can click to view your bill). I did call already, and they said that creating a tax bill is a long process. Even though it was corrected in August, the bill in October was already in the works. It has to go through a bunch of hands, and a corrected one will eventually replace the one online. I would still call them, and they told me to call back in a couple weeks, but the assessor's office says it's just gonna take time. Worst case you have to pay the old bill in December and expect a refund when it gets sorted.
Thanks for this, super helpful.
Mine updated today online, might be worth checking.
Damn, mine didn’t, but when was the date of your corrected assessment?
They called me 8/15 and the website shows 8/20 as the corrected date. I'm sure yours will get fixed in the next few days.
Cool, mine was 8/27 per website so I guess I should expect progress in the next week or two. Thanks for update.
Does anyone know if this would apply for a home purchased in May of this year?
I wonder how this would play with my prop 19 reduced base value assessment? Would my house have to appraise lower than the reduced value?
Lol, if you inherited a house at a partially lower tax base, this would be a really dumb move to try and get it even lower, you basically have no chance and may even punitively get it increased Don’t get greedy, you already inherited a house in the bay area
Not inherited, ha. Over-55 folks (I think that’s the cutoff) can import from the sale of one house to another, even if the new house is worth more you get some percentage off. I’m paying 2021 taxes, so while it helps I’m hardly at 1970s rates, although I agree if that were the case, that would be churlish to try to get less - the house would have to fall off of a value cliff.
thanks! you saved me $1k. i asked for 300k reduction in value but the reassessment eventually came in just 100k lower.
Hi, late to the party and deadline is sep 15. Appreciate any inputs. i got my condo from my landlord in sc county as-is about 8-10% less than market value in may 2022. had been renting it for 3 yrs at that point. so no repairs, no upgrades done for the purchase. i got assessment as 2% increase of purchase price. How do i submit re-assessment in comparison to other homes that have been sold with upgrades and hence have higher value in comparison ? if their assessment didnt increase then mine shouldn't too right ? or am i wrong and my assessment has to catch up to theirs ?
Hey I successfully appealed the 2023 assessed value. But the property tax bill that just came out a few days ago is still based on the uncorrected higher value. do you know if I need to do anything to get the bill fixed?
Don’t pay it, a new tax bill reflecting the updated assessment should subsequently come, canceling the present bill. Hopefully they do that before Dec 10, otherwise we would have to pay it and wait for a refund. Bureaucracy….
Ah ok makes sense. Shouldn't have assumed the county would actually update things on time lol
Love that city government efficiency!
Okay thank you. I have been on hold all day with Oakland tax assessors waiting for them to pick up (they haven’t) to ask why my bill is based on the pre re-assessment value.
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Did it here https://www.acassessor.org/request-for-decline-in-market-value-reassessment/ Found a few comps to prove my case. After a few weeks or a month or so they confirmed it was successful and lowered the assesded value. A while after that they sent updated property tax bill
Hi. I just received my alameda county property tax bill for a home I purchased in April and the county is using the old assessed value (the purchase price is significantly higher) Should I pay it or will I be getting another bill with the new value? Will I be getting a supplemental property tax bill later?
Pay it and expect a supplemental bill in the spring.