Home prices have fallen substancially since 2005. In fact the Wall Street Journal reports that drop to be 31% nationally. That’s is hardly news to many of us.
Something that may be a bit more difficult to understand however is the fact that property taxes have increased by 20%. There is good news however. Homeowners can fight back.
Some interesting points to keep in mind are:
- Properties are not reappraised each year. That is usually good news to the home owner. Also, in California there are limits to the anual increase in taxes, regardless of value as long as ownership has not changed.
- Although homeowners cannot change the tax rate, we can influence the valuation of the home. One such process might be an appeal. This can be to challenge the “facts” or the dollar amount the home is valued at.
- Your Realtor® can help you get started on this process. If your home is still being taxed at the value it had five years ago you might be paying too much.
Questions about YOUR best action? Contact us today for your free, no obligation consultation. Call or text 530 315-2808. Email Taxes@EncoreRES.com (Encore Real Estate Services).
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