There are two things in life you can't avoid: Death and Taxes

And Property Taxes are included!

UGH!!! In So Cal they are HORRIBLE!!! They are SO high!

But, of course, my Dad lives in Upstate NY and theirs is even WORSE! I can't believe the percentage of Property Taxes they pay!

Anyway, we are going through a "Recession" (ummmm.... "Depression"?? "Quagmire"???? I don't know, but recession sounds just way too soft!)


Ok - I digress...

If your property taxes are based on a value of your home and it is WAY off base, you can ask the County of San Diego for a property tax reassessment!

At least here in SD: every time that a home sells, the property taxes are automatically reassessed at the sale price. So, if they used to be based on $125,000 but you paid $450,000, your property taxes will be based on the $450,000 value.

Well, that makes sense. Obviously, the "going rate" for your home is $450k so that's what the property taxes should be based on.

AND, every year, the county "assumes" that the value has increased. I can't remember the percentage but it's 1 or 2% I think. So every year, your property taxes increase slightly because the assumption is that your home has increased in value.

But wait a minute.

I own a home that I bought in 2003 (before the bubble) and my property taxes increased and increased and now, my home is worth LESS than I paid!!!


***SOOO*** I contacted the county and applied for a property tax reassessment. It's fairly routine (especially right now during this nightmare economy). I think there is a form that you fill out and return and they do "comps" in your area. Now, before going through all of this, check what price your taxes are based on and then check your neighborhood comps  and BE SURE that your neighborhood market is lower than your tax base.

Check: Zillow.com (or the app) for current comps. Choose the "Find Homes" section. Enter your address and it will give your neighborhood and your home.

Check: your tax bill for the base value of your taxes. In San Diego County the website is: http://www.sdtreastax.com/.


Again: this is NOT tax advice!


OH! Another note! When I applied for my property tax reduction, there was some option for applying for a refund for a previous period. I goofed it up and didn't get it, but don't do what I did! Follow up and get that refund!