How can I lower my Base Value property tax assessment?

Asked over 2 years ago - Murrieta, CA

I would like to have the Base assessment for my home reassessed at today's lower value. The home has a Base assessment value of $1,400,000. The Prop 8 value assessment is at $950,000. I think current market value is $800,000. I would like to trigger a reassessment of the property by Riverside County California Assessor in order to lower the Base Value. I plan to transfer the property out of my trust hoping this will trigger a reassesment. Any other suggestions?

Attorney answers (3)

  1. Andrew Kevin Jacobson

    Pro

    Contributor Level 16

    3

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    Answered . Riverside County is in the middle of a reassessment process. Check this web page for more information as to how it may apply to you: http://riverside.asrclkrec.com/INProp8.asp. We wish you success.

    www.bayoaklaw.com. 510-208-5500. This answer does not create an attorney-client relationship. It is not legal... more
  2. Curtis Lamar Harrington Jr

    Contributor Level 20

    2

    Lawyers agree

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    Answered . The other half of an answer to this might be that you should have a thorough and complete appraisal. I know that these range on the high end at $10,000 and the low end of a couple of hundred dollars. FMV.com is one of the high end providers who provide all 3 approaches to value.

    You might consult with local professionals who ask for re-assessments of value and find the level of diligence that your county demands.

    Please remember to designate your question's BEST ANSWER.

    Curt Harrington
    (562) 594-9784
    curt@patentax.com

    Curt Harrington Patent & Tax Law Attorney Certified Tax Specialist by the California Board of Legal... more
  3. Michael John Harrington

    Pro

    Contributor Level 17

    Answered . I agree with attorney Jacobsen, I'll add that the reassessment forms allow you to provide comparable sales information. You must file a timely request or loose your rights for that tax year.

    The answers on this discussion board are general in nature and NOT intended as legal advice. Responding to... more

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