How to Apply for a Property Tax Reduction

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.

Contra Costa requires some recent “comps” but will also accept current listings that have been on the market for some time and haven’t sold as an indication of value. Of course, the “comps” need to be of similar square footage, lot size, age, location, etc. (Leave that part the Barbara and me). We have drafted a basic letter for you to use that must include your APN number, date purchased and price. Just give us a call for the comps and the APN if you need it. The very nice staff person I spoke to there is Angie at (925)313-7500 who said we could address our letters to her attention.

Send it to:
Contra Costa County Assessor’s Office
2530 Arnold Drive #100
Martinez, CA 94553-4359

Alameda County has an automatic 2%/year increase built in to the property tax. They have an application process on-line at http://www.acgov.org/clerk. Once, there go to forms then “Application for Change” . They also have a section for Proposition 8 “Decline in property value” which is the rule applying in both counties to allow the reduction. I suggest you read them both. Alameda requires 3 comps and you will have to apply twice – once for 07/08 tax year and again in July for 08/09. They want the “comps”, as near as I can tell, from Jan.01 – Mar.31, 2008. The very nice woman there is MaryBeth at (510) 272-3787, if you have questions. Again, just give us a call for your “comps”.

We hope this information will be useful to you.  We will be so happy to help you get your reduction.