Tax Relief

Legal Notice

2011 Review of Assessment / Tax Relief Fact Sheet - San Diego County

Seal of San Diego

This is a fact sheet for the Review of Assessment / Tax Relief process compiled from county websites, professional resources and feedback from personal / client experience. Information provided is to help guide the individual to the proper resources and information to consider when attempting property tax reduction.

Per California State Law (proposition 8), a temporary reduction in assessed value is allowed when the ‘market value’ of a property has dropped below that of ‘assessed value’.

2010-2011 Tax Assessment Review Submission Deadline: November 30, 2011

Depending on your area’s market decline and base assessment if you purchased between 2002 and 2007 you may be eligible for lower property taxes. Follow the simple 3 step process to find out.

Review of Assessment - 3 Step Process:

1. Determine property’s current Assessed Value by:

A. Look at upper right corner on tax bill

B. Click on ‘Pay Online’ to look up current tax bill

- Determine Land and Improvement (L&I) assessment

- Make a note of ‘Parcel Number’ to be used later

2. Determine approximate current Market Value:

A. Use Zillow.com for quick view of Active, Pending & Sold

B. Use County PROPERTY SALES SEARCH for sold comps

- Use parcel # to search per instructions on page

- Just use first 3-5 digits of your parcel number as instructed

- Keep these ‘comps’ (comparable sales) open for later use

3. If ‘Market Value’ is below ‘Assessed Value’ then

A. Use the simple * REVIEW OF ASSESSMENT FORM

B. Watch Introduction Videos and Review Publication 30

C. Fill out, print & submit application form along with comps by certified mail and save receipt to have record of submission.

* There is a more detailed assessment appeal form that can be used too but the simple form is enough to trigger the re-assessment.

TAXES: IMPORTANT DATES

July 1 - Beginning of fiscal year

August 31 - Unsecured tax deadline

September - Property tax bills mailed

November 1 - First installment is due (Secured Property Tax) and delinquent unsecured accounts are charged additional penalties of 1½%

December 1 - assessment appeal

December 10 - First installment

January 1 - Unsecured bills mailed out; lien date for unsecured taxes.

February 1 - Second installment due

April 10 - Second installment due

May - Tax delinquent

May 30– Tax Relief deadline

June 30 - End of fiscal year

July 1 - Delinquent secured accounts are transferred to delinquent tax roll and penalties added at 1- ½% per month on any unpaid tax amounts.

TAX FACTS: (per clients and conversations with the assessor’s office)

There is no drawback to attempting a Tax Relief since one can apply for a new tax relief the following year if property values continue to decline.
The ‘comps’ you submit will be compared to ‘assessors comps’ and you will be sent a letter with the assessor’s new value findings and given opportunity to appeal if you disagree with value.
You will be billed the new assessed value in September.
There were over 40,000 assessment appeals from the 2008-2009 assessments.
Taxes are NOT automatically reduced and you do not get a refund for previous year’s overpayment.

Do It Yourself and Help Those In Financial Distress

There are many companies charging for this service, but it is simple to complete yourself.

Homeowners in financial distress should consider their 4 options at www.SDHS.com

If you need help, then contact us at info@sdhs.com

Links and Information:

Simple Form and Instructions: http://arcc.co.san-diego.ca.us/arcc/docs/valrev.pdf

Assessor / Recorder Website: http://arcc.co.san-diego.ca.us/default.aspx

Nearby Comparable Sales: http://arcc.co.san-diego.ca.us/services/propsales/propsales_search.aspx

Check to see if sales are below your tax basis

San Diego County Real Estate Division: (858) 505-6262

Seal of San Diego San Diego County Assessment Appeals: http://www.sdcounty.ca.gov/cob/aab/index.html