Appraisal Blog

If the value of your house is less than the current Tax assessed value, then why not ask the Assessor to adjust the value to its current rate.  In most counties in California your property is assessed based on the value on 1/1/XX.  Property taxes appeals are typically allowed from July to November.  But you must be able to prove what the value of your house was at on Jan. 1st. The value is determined by an appraisal and the analysis of comparable sales.  If you purchased your home between 2004 and 2007 it may be assessed higher than its current value.  

Is it worth the cost of an appraisal? 

    If the typical appraisal cost $350 - $450 dollars then a drop in value of only $35,000 - $45,000 would offset the cost on the very first year.  I have seen values drop over $100,000+ during this time. Thats a tax savings of $1,000+- the very first year.  Its the difference between what your home is assessed for and the current actual value based on an appraisal. 

Remember, its the sales data now that will be used to prove the current value.  Not the value when you submit an appeal, later in the year.  So arm yourself now with an appraisal.   NOW