Want to start of 2012 with a bang by lowering your San Diego Property Taxes?
If your San Diego property/properties have decreased in value since you bought them, you may be able to lower your property taxes.
After reviewing the tax bills for our properties, I called the city of San Diego to see if there is a way we could save money on property taxes….AND THERE IS!
You first want to determine you property’s assessed value. To do this, look at the upper right hand corner of your current tax bill next to NET TAXABLE VALUE. If your property is worth less than this amount, you may be able to lower your property taxes.
Here’s an example using a Townhome I purchased back in 2004 for $295,000.
The City of San Diego has assessed this property with a $320,000 value. Today, comparable properties are selling for $270,000, a $50,000 difference. The woman I spoke with at the Tax Assessor’s office said if I could prove my property is only worth $270,000, I could save over $500 a year in taxes!
So, here’s what you have to do to contest the value of your San Diego property to lower property taxes. THIS PROCESS IS FREE AND WILL PROBABLY ONLY TAKE YOU 10 MINUTES!!!
- Go to www.sdarcc.com
- On the right hand side, click the FORMS tab.
- Select the link REAPPRAISALS APPLICATION FOR REVIEW OF ASSESSMENT (PROP 8 INFORMAL REQUEST).
- Print out the form and fill it out.
- Submit the form to your local Assessor/Recorder Office with comps of local properties that support why you feel your property has the new estimated value. The best way to do this is to look at all comparable properties that have sold within the past 6 months in the area your property is located. You can ask a realtor friend that has access to the Multiple Listing Service (MLS) or you can call us and we can send you comps of your property (we have access to the MLS).
If you have questions and would like to speak with your local San Diego Tax Assessor’s office, call:
San Diego 858-505-6262
Chula Vista 619-498-2200
El Cajon 619-401-5700
San Elijo/San Marcos 760-940-6868
You will need to submit your paperwork before April 30, 2012. You can apply for this tax reduction FOR FREE and don’t need to pay someone to help you.
Good luck and we hope we hope this tip helps you and your family save money on your San Diego property taxes.