The Upside of a Down Market
Home process sliding in your neighborhood? Just received a shocking tax bill from the county? Do what many of my clients are doing, and contest the assessed valuation of your home (as listed on your tax bill) with the Marin Tax Collector.
Reduce Your Tax Now
Property taxes are ad valorum, or based on the assessed market value of your property. The county uses a formula based on your original purchase price and Prop. 13, then bumps your taxes every year. If you can show that homes similar to yours are selling for less than your assessed value, the tax collector will reduce the amount of tax you owe.
You need to send them a completed Request for Informal Review form and a list of similar properties near your home that have sold recently. Comparable properties need to be like yours in respect to lot size, square footage, and other improvements.
I’ll run the comparable properties for you from the multiple listing service and send them to you without cost or obligation. But contact me right away – 415.300.0432 or jack@mmsmarin.com – because your request must be received by the County no later than December 31 to reduce this year’s tax. So hurry!
Posted by Jack McLaughlin 
