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No! County Tax Relief will provide you with all the necessary information to file the paperwork on your own or we will become your representing agent and ensure you receive the maximum reduction in your tax assessed value. |
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No, you will not be required to refinance your home. Proposition 8 has nothing to do with your mortgage. County Tax Relief simply helps to reduce your property taxes. |
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Proposition 8 benefits various types of properties including: single family, 2nd home, non-owner occupied, land, commercial, industrial, agricultural, mixed use, town home, etc. All owners of real estate property in California that pay property taxes can benefit from Proposition 8. |
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Frequently Asked Questions |
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Proposition 8 (Also known as Revenue and Taxation Code Section 51) mandates that the county assessor enroll the lower one of two things: 1.) Properties Factored-Base-Year Value (assessed value established under Proposition 13) or 2.) Its market value as of the tax lien date (Proposition 8 value). |
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What is Proposition 8? |
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What types of properties benefit under Proposition 8? |
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Will I need to refinance with County Tax Relief? |
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Do I have to pay for an appraisal? |
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No. the tax assessed value and the appraised values are not directly linked. The tax assessed value has no coloration with a refinance. |
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Should I wait until after I refinance? |
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News |
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Sometimes, if the appraisal was performed within 90 days of the tax lien date, it may be helpful. Mortgage companies and the county do not always utilize the same data. We use more accurate data that is accepted by the county. |
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Can I use the appraisal I received during my refinance? |
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No! Filing for a reduction does not affect other tax exemptions. Existing benefits will continue and your eligibility for new benefits will not be compromised. |
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If I file for a reduction will I lose my exemptions? |
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No! Your credit does not play a factor nor does your income or assets. The only factors that will be used are the current tax assessed comparable values in your area. |
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Will you need to check on my credit? |
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Yes, property owners with impound accounts can still save money by lowering your property taxes. Once the assessor has reduced your property taxes, simply submit the county paperwork showing your new tax assessed value to mortgage company. Your mortgage company will then adjust your monthly payment accordingly resulting in lower monthly payments. |
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My property taxes are paid in my monthly house payment (Impound / Escrow account). Can I still receive a savings under Proposition 8? |
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Yes. Only if the current market values on the tax lien date is at or above the prop 13 value. If the value of your home increases your taxes will increase accordingly. |
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Can the assessor office restore my prop 13 value? |
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Yes. You or any one that you appoint as your representing agent may file a tax appeal on your behalf. Keep in mind that the success that you will have will depend on your knowledge of assessment appeal rules and regulations, and supporting data. The burden of proof is on you the home owner! Not the county assessors office. Most home owners that file on their own will receive an average of 10% savings. Hiring a professional can get you in excess of 20% to 40% in savings depending on your purchase price and current tax assessed value. |
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Can I do this myself? |
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© Copyright Tour Investments LLC 2008. All rights reserved County Tax Relief is not a government agency |