This article is intended to be a general discussion only and to provide a starting point for your own research of the California property tax laws. Under no circumstances should you consider this article to be legal, tax or accounting advice.

Reduce Your California Property Taxes

By Mikey and Steven Hall

If you're a home owner in California it may have occurred to you that your home is worth less now than the day you purchased it. If so, the next thought which will occur to you is why the devil are you paying property tax based on a market value which doesn't exist any more?

Well, if you live in California you might be able to find some relief in something called an Informal Assessment Review.

California Revenue and Taxation Code

You might want to take a look at Section 51 of the California Revenue and Taxation Code. This particular code section provides that the assessed value of any real property (located in California) shall not exceed that property's market value on the January 1 lien date.

This means that if your property's market value on January 1 is less than its assessed value, as it appeared on the previous annual assessment roll, then you may be entitled to an assessment review!

So if your home's market value has fallen below what you paid for the property it may be worth your while to obtain a form called a "Request For Informal Assessment Review," from your county assessor's office. In Orange County the Assessor's phone number is (714) 834-2727.

If you do not agree with the roll value resulting from the informal review, you may file an Assessment Appeal form with the Office of the Clerk of the Board of Supervisors from July 2 through September 15. Assessment appeal forms can be obtained from your local library, the internet at www.ocgov.com/cob/ , or at the Clerk of the Board, Hall of Administration, 333 W. Santa Ana Blvd., Room 101, Santa Ana, CA 92701, (714) 834-2331.

mailto:AskMikeyHall@gmail.com