If you bought in 2004, 2005 or 2006 and you think that the value of your casa has taken a temporary drop in value and you’re not selling, we have good news for you.
You may be entitled to a reduction in your current property tax, which could net you enough to make the improvements you’ve been putting off. For example the seismic upgrades you’d promised you’d do when we sold you your house (by the way, we are both busily doing that to our own homes). In some cases, properties may be down in the $50,000 - $100,000 range which will represent an annual savings of about $600 - $1,100 a year. Imagine what you can do with that!
Just how much and how you apply depends on where you are and when you bought. We’ve spoken with the Assessor’s office for both Alameda and Contra Costa Counties. Both of the woman we spoke with were knowledgeable and helpful.
