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How can I lower my Base Value property tax assessment?

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?

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Attorney answers 3

Posted

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 advice, because it is only of a general nature. Please contact a lawyer qualified in your jurisdiction to discuss your situation in confidence, using your factual details. Avvo answers are only general legal responses. Item 9 of Avvo.com's Terms and Conditions are incorporated in this disclaimer as though it were printed here.

Asker

Posted

My property has already been reassessed per Prop 8. This is a "temporary" assessement per Prop 8. I would like to have my "Base" property tax lowered to the lower the current market value. Any suggestions on how to get the county to reassess so we have a new Base Value?

Posted

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 Specialization PATENTAX.COM This communication is general information and not legal advice, and does not create an attorney-client relationship. This communication should not be relied upon as any type of legal advice. Please note that no attorney-client relationship exists between the sender and the recipient of this message in the absence of either (1) a signed fee contract and (2) remission of an agreed-upon retainer. Absent such an agreement and retainer, I am not engaged by you as an attorney, nor is any other member of my law firm.

Posted

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 questions does not constitute an attorney-client relationship. Always see a lawyer about your individual situation.

Asker

Posted

This does nothing to reestablish a new lower Base Value. What is the best way to get the property reassessed so I will have a new lower Base Value so when properties increase I don't have the risk of my property tax jumping up to the much higher base rate?

Michael John Harrington

Michael John Harrington

Posted

Re post the question under estates or wills and trusts

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