"Your taxable value has been temporarily adjusted due to market conditions existing on the lein date, January 1, 2008."

code7700_IHB

code7700_IHB

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A few weeks ago I saw an OC Register article titled How to appeal your property tax assessment.

Needless to say, this was something I wanted to do and I had planned to contact them next week.

But to my amazement, in the mail today was a letter from the Orange County Tax Assessor today that said: "Your taxable value has been temporarily adjusted due to market conditions existing on the lien date, January 1, 2008."

(The phrase temporarily adjusted was literally underlined and bold.)

The total reduction was about 15% and (as much as I hate to say it) it is fairly accurate (in-line with comps for my area). It could be a bit lower (another 5% or so) based on recent activity, but that is not my point.

My point is that I was (pleasantly) surprised to see the Orange County Tax Assessor taking proactive steps -- especially when it will take money out of their hands.
 
Ha! I got one of those in the mail today that showed the assessed value was going to be 18.3% less than last fiscal year. We just bought the property for 39% less than it's old assessed value. The county says that we will get a credit for the difference that the bank paid for Jan 1- to our purchase date, but this woman didn't seem to know a whole lot and I was transferred to her as the senior person with better info.
 
I seem to remember saying something about this decrease happening for lots of OC homeowners several weeks ago and I got some sh*t about it from other IHB'ers.

Told ya so :)
 
Well aren't you all lucky. I called my tax assessor in Connecticut today to inquire about a downward adjustment...she politely told me that Chester properties had appreciated 7% in 2006 and 11% in 2007, so I would actually be seeing an INCREASE in my taxes. I almost fell out of the chair.

In a nutshell, I told her she was crazy and spewed out a few comps in my neighborhood that I was aware of (all lower sales price than mine....by about 50K). Told her if she wanted, I could fly in to town and show her my paperwork. I track that market like a dog....it's falling faster than I can follow it.

No way will I stand for an increase.... that's just insane. There is absolutely no justification. Now what? How do I attack this?
 
Anon. said:
I seem to remember saying something about this decrease happening for lots of OC homeowners several weeks ago and I got some sh*t about it from other IHB'ers.

Told ya so :)
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I was one of the doubters Anon - here. You did tell us so and you were right.

I still stand by my overall doubt in the govt machine, but glad to hear they have come through in this case. Thank you for taking some sh*t. If we all thought alike, it would be a very boring place. I appreciate the company. :smirk:
 
IrvineRealtor said:
I still stand by my overall doubt in the govt machine, but glad to hear they have come through in this case.
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Me, too. It was a case of I'll believe it when I see it, so it was a pleasant surprise to find out that they gave many owners a halfway decent decrease.

Now the County will be bitching about how much revenue they will be losing between lower property taxes and lower sales tax income and what they'll have to cut in services :-S
 
in ir2's defense, the county obviously has an incentive to keep the decreases as small as possible. the change for my woodbury condo is just -7.8%. ridiculous. appeals process here i come...
 
acpme said:
in ir2's defense, the county obviously has an incentive to keep the decreases as small as possible. the change for my woodbury condo is just -7.8%. ridiculous. appeals process here i come...
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That is ridiculous! Appeals start on July 2nd. Even if it is a PITA, it's worth it.
 
During the last re cycle decline, I applied for and had my property taxes lowered. When the new county appraisal did not show as big a decline as I had hoped for, I appealed and got it lowered more.
 
i think what you mean is if you appeal and they lower your value, can they next yr raise it more than 2%. the answer is yes, they can jump you back all the way back to the previous prop 13 factored value. in which case you would need to appeal again the next yr.

edit: i just put together a list of recent sales in 92620. its mostly condo, townhomes, and entry level SFRs that closed between jan 1 and apr 1. if anyone in northwood or woodbury wants this list, PM me. (IR2's spreadsheets helped make this a breeze. thanks!)
 
I also received the letter. Our assessed value decreased 21.6%. I'm pretty happy about it and surprised they did this. I'm wondering how they determined the % decrease and if it was based on area or year purchased (or a combination of both). We purchased during July 2004. Either way, I think it's pretty accurate in my case. I'm just happy that we put 50% down from the proceeds of the last home sale. Now I can just be content with at least paying less property tax.
 
another cortile owner in my neighborhood said he got the 2% raise! i have never been so annoyed to see my prop value not go down.
 
I filed the "informal" review based on values of January 2008, included the requisite 3 comps. The assessment notice I received was EXACTLY what I had determined the value should be. Sheesh, too easy, I should have asked for less.
 
BethN said:
I filed the "informal" review based on values of January 2008, included the requisite 3 comps. The assessment notice I received was EXACTLY what I had determined the value should be. Sheesh, too easy, I should have asked for less.
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I'm going to copy this and resurrect the earlier thread. Good to hear that success is coming. I too got EXACTLY what was requested.
 
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