Can you lower your taxes?

With the falling prices in real estate, there's the possibility that you can reduce your real property tax liability for the coming year. Compare the sale prices of homes similar to yours and then check the assessed value on your home to see if it's greater than 50% of those comparable sale prices. You receive annual notices of the SEV (State Equalized Value) and AV (Assessed Value) on your home - it is also printed on your tax bills. They go up almost every year.
The tax review board meets every year in early March, around the 12th or 13th of the month. If you think you should have your taxes lowered based on recent neighborhood sales and your current AV rate, you should go in for a meeting. They will want you to bring in some examples of the comparable sales in your neighborhood.
If you have questions about this whole process and want some information before this time comes, please feel free to call me, Barbara, at 439-8405.