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Copyright © 2012 by the first tuesday Journal Online - firsttuesdayjournal.com;
P.O. Box 5707, Riverside, CA 92517
Readers are encouraged to reproduce and/or distribute this article.
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Property reassessments might save owners on taxes—but beware of scams
By ft Editorial Staff • Mar 5th, 2009 • Category: real estate newsflash
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Homeowners throughout California have been receiving mail from companies soliciting reassessment services, the L.A. Times reports. While a reassessment should help homeowners reap lower property taxes in this post-bubble era, beware of those charging exorbitant fees for the service. According to the Los Angeles County Assessor, Rick Auerbach, a property reassessment is “something you could do yourself for free.”
first tuesday take: In the current California real estate market of measurable monthly declines in property value, the assessed value of real estate purchased after 2002 is now greater than its current fair market value. 2010 will certainly bring even more distortion between these values. Home value reassessments are an invaluable means of establishing connections between real estate agents or brokers and homeowners who may want or need to sell a home in the near future. Whole neighborhoods are underwater and waiting to be farmed by a broker or agent willing to think about his future income.
Re: L.A. Times Op. Ed.: “Offer to reassess home raises red flags”
Also see first tuesday article
“Reassessment and Tax Reduction Assistance Down on the Farm” for an expansion on the mechanics of reassessing home values.
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Copyright © 2012 by the first tuesday Journal Online - firsttuesdayjournal.com;
P.O. Box 5707, Riverside, CA 92517
Readers are encouraged to reproduce and/or distribute this article.
Copyright © 2012 by first tuesday Realty Publications, Inc. Readers are encouraged to reprint or distribute this information with credit given to the first tuesday Journal Online — P.O. Box 5707, Riverside, CA 92517.
ft Editorial Staff is the writing staff comprised of legal editor Fred Crane and writer-editors Connor P. Wallmark, Giang Hoang-Burdette, Bradley Markano, Jeffery Marino, Mary Balash, Carrie B. Reyes and Sarah Cantino.
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