A Real Estate Appraisal can help save you money! Many homeowners are receiving tax bills that don't seem to be in line with the real value of their homes. With many real estate markets changing rapidly, it pays to find out what you are paying taxes on. The most accurate way to find out the taxable value of your property is to call an appraiser in your area. Appraisers will charge a fee to complete all the paperwork including a certified exterior appraisal. With this appraisal, you can go to your Tax Assessor’s office and appeal to them to reduce your tax bill. To request a review of the assessed value of your property as of January 1, 2009, you must complete and file the application by December 31, 2009. An application can be found through your local Tax Assessor’s office or website.

As per the Los Angeles County Tax Assessor, “Current legislation under Tax Proposition 8 allows a temporary reduction in assessed value when property suffers a "decline-in-value" due to economic conditions. This action is authorized under Section 51 of the Revenue and Taxation Code. A decline in value occurs when the current market value of your property is less than the current assessed value.” Please provide information to your County Tax Assessor’s office to support your opinion that the market value of your property is less than the January 1st assessed value.

By calling an appraisal company to see what they can do to help you adjust your tax bill, they may be able to help you save hundreds and even thousands off your current bill! Homeowners must challenge the bill by the end of the year so don't wait until it's too late or they will charge you the full amount!