Judy Mitchell's Blog » household gain http://judymitchellhomes.com Realty World - Delta Country Real Estate Tue, 15 Mar 2011 03:42:08 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Lower Property Tax – Results http://judymitchellhomes.com/2011/03/12/lower-property-tax-results/ http://judymitchellhomes.com/2011/03/12/lower-property-tax-results/#comments Sun, 13 Mar 2011 03:00:05 +0000 Judith Mitchell http://jmitchell.blogs.rwnetwork.com/?p=10 The following Post was originally done March of 2009.  I was concerned at the time about the fall out caused by lower property taxes.  The counties are running in the red now, cutting essential programs, laying off workers, etc.  The problem is huge, but the wages and jobs have diminished as well.

Your property taxes are based on the value of your home as of the lien date, January 1.  The State Constitution allows the Assessor to temporarily lower the assessed value of property under certain conditions.  In Contra Costa County there are some of the hardest hit areas of value decline.  According to County Assessor, Gus Dramer, there have been “automatic reassessments of value.” Out of 150,000 homes reviewed that were purchased back as far as January 1, 2002, about 85,000 were lowered.  There will be another “automatic reassessment” done again for the 2009-2010 tax year.  Downside — less revenue for County Services.

Beware.  Do not pay anyone for a reassessment of your property!

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