| How Does it Work | | | | deadlines; otherwise, you will incur penalties while the |
| The Assessor/Recorder will assess your property. | | | | case is on appeal. If your appeal is granted, a refund |
| Generally, the assessed value is the cash or market | | | | will be issued to you. |
| value at the time of purchase. This value increases not | | | | Appeal applications |
| more than 2% per year until the property is sold or any | | | | Under State law, if the market value of your property |
| new construction is completed. Then it is be | | | | (recent comparable sales) as of January 1 falls below |
| reassessed. | | | | the assessed or taxable value as shown on your tax |
| If Your Property Has Declined in Value Since You | | | | bill, the Assessor's Office is required to lower the |
| Bought it. | | | | assessment. This type of property tax relief generally |
| If you disagree with the assessed value of your | | | | applies to recently purchased property. Assessment |
| property contact the Office of the Assessor | | | | appeals maybe filed from July 2 to September 15 and |
| Recorder. They can provide you with information on | | | | information about the appeal process can be obtained |
| how the value was established. | | | | by contacting your local Assessor's Office. |
| ** If you still disagree contact the Assessment | | | | Real Money |
| Appeals Board to appeal your property tax | | | | The declining market value of your home is only a |
| assessment. | | | | paper loss until you sell. If you plan to stay in your |
| Pay Your Taxes Even if You Disagree and Will | | | | home for ten of fifteen years you can put a significant |
| Appeal | | | | chunk of change back in your pocket while you wait |
| Pay your property tax in full by the appropriate | | | | out better times. |