If there is a silver lining to the unfavorable market conditions these days for homeowners, this is it. Because Los Angeles county has been declared a ‘declining-value market’, you may be entitled to a reduction in your property taxes, especially if you purchased your home between July 1, 2005 and June 30, 2007.
There is more thorough documentation and an application form here, http://bos.co.la.ca.us/Categories/PropertyTaxAppeals.htm, but this could potentially save you thousands of dollars in property taxes so it is definitely worth your while to read it!
As always, if you have any questions, please feel free to contact me and I’ll be happy answer any questions you may have.
Thanks,
Neal Weichel
661-284-5080
