Is Your Property Tax Too High?

May 31, 2009

Across America, home values have plunged, but property taxes—the tax homeowners pay based on their homes’ assessed value—have not.

“Nationwide, we have properties that may be overassessed by as much as 60%,” says Pete Sepp of the National Taxpayers Union, a watchdog group in Washington, D.C. Since those figures are based on studies conducted before the housing bubble burst, it’s likely that even more homeowners are paying too much property tax today. “Many localities are still charging taxes based on the housing-boom values of a few years ago,” Sepp explains.

While you can cut back on spending to lower your sales-tax burden or pay less income tax if your salary is cut or you lose your job, property taxes are not designed to respond immediately to economic pressures. In fact, according to U.S. Census Bureau figures, property taxes are one of the few areas of tax revenue bringing in more money than last year. Although most municipalities calculate the value of homes every three to five years, there are no national standards for how often reassessments should take place.

The good news is that, unlike sales and income taxes, property taxes can be appealed—and many homeowners are doing just that. Some 50,000 appeals were filed this spring in Atlanta alone—10 times more than in 2008. Another study found that almost 750,000 New Jersey homes are worth less than local assessors say. If the homes were correctly valued, their owners could save an average of $2000 a year in taxes—but local municipalities would lose millions in funding.

In the past, about 40% of all appeals nationwide have been successful. But that may not be the case this time. Local governments often depend on property taxes as their primary source of income, and most schools are funded via property taxes. With budgets already stretched thin, property taxes represent a source of revenue that local governments may not be willing to give up.

— Lyric Wallwork Winik
Source Parade Magazine

California Property Tax Savers Launches Tools and Resources Designed to Save Homeowners Thousands

Check it out at: http://biz.yahoo.com/bw/090302/20090302005381.html?.v=1

Calif.--(BUSINESS WIRE)--California Property Tax Savers, an online service provider which helps California homeowners quickly and accurately assess the value of their homes and determine whether or not they are eligible for a property tax reduction, today launched at www.capropertytaxsavers.com. In addition to providing valuable information about the property tax appeals process, the company’s proprietary software walks homeowners through a four-minute assessment and gives them all the information they need to appeal at the county level for lower property taxes. Designed to arm homeowners with the tools and resources they need to navigate the complexities of do-it-yourself appeals filing, the model offers consumers the best, most comprehensive data so that they can file on their own to receive a maximum return. It’s the California appeal process made simple with the click of a mouse.

“Many California homeowners, especially those who bought in the height of the real estate market between 2003 and 2007, are paying more in property taxes than they should be,” said Cornell Beans, co-founder of California Property Tax Savers. “What consumers may not know is that the law entitles them to revisit the valuation of their property to ensure that they are paying appropriate property taxes. Our system helps homeowners access the most up-to-date information on comparable homes to help them better understand whether or not they are overpaying property taxes and also to prove their appeal for lower property taxes – and instead of wasted hours wading through microfiche, and searching out the right forms and deadlines – our system streamlines the entire process in four minutes or less.”

In addition to numerous helpful educational resources such as a frequently asked questions section and glossary of important terms, the site features a Quick Analysis tool, which shows homeowners in seconds if their property’s current market value justifies an appeal. Also, a complete Personalized Property Tax Appeal Kit is available to maximize appeal opportunities with pinpoint accuracy. This easy-to-maneuver, three-step system streamlines an otherwise difficult and time-consuming process, and provides consumers with the best, most comprehensive comparables data, provided in the proper forms and format each of California’s 58 individual counties require, along with accurate information regarding the deadlines and processes unique to every region. The company’s cost-effective system offers a superior formula for safeguarding against rejected appeals – providing homeowners the best possible chances of success.

“Unfortunately for homeowners, trying to get your property taxes reassessed on your own can be overwhelming and frustrating,” said Scott Daniel, co-founder of California Property Tax Savers. “We were tired of seeing homeowners turned away by the county assessors because they used unreliable comparables data, missed deadlines or submitted the wrong forms. More than anything, we were tired of seeing disreputable businesses soak homeowners for hundreds and even thousands of dollars, when we knew there was a better, faster, more cost-efficient solution we could bring to market that would simplify the process and allow consumers to file their own appeal to receive a maximum return.”

California Property Tax Savers guarantees that its information will meet each county’s requirements; that the information needed to submit within the appropriate timeframe will be provided; that comps provided will be within the right proximity; and that all reports will be provided in the proper format for the homeowner’s county.

About California Property Tax Savers:

California Property Tax Savers was established to provide a simple yet effective way for California homeowners to determine whether their property has been fairly assessed and if they are entitled to a tax reduction or refund. Committed to consumer advocacy, the company’s Web site — www.capropertytaxsavers.com — aims to enhance public awareness of the California property tax appeal process, educating consumers and arming homeowners with the tools and resources they need to navigate the complexities of do-it-yourself appeals filing. In four minutes or less, the company’s cost-effective and fully-automated proprietary software provides users with all the information they need to successfully reduce their property taxes by hundreds if not thousands of dollars. For more information, visit www.capropertytaxsavers.com.

Editor’s Note: Members of the press are invited to experience a free media trial. For trial offer passwords, to schedule interviews, or more information, please contact Amy Wallace at 714-573-0899 ext. 34.


Contact:

For California Property Tax Savers
Amy Wallace, 714-573-0899 x 34
amy@echomediapr.com

San Diego County home values down 34.7%

Year over year single family home values have declined 34.7%. Do not overpay your property taxes. As Californians we have a legal right to appeal our taxes in times like we have been facing for the past couple of years.

Find out what your properties true value is and decide if an appeal is worthwhile. Chances are if you purchased your home between 2003 and 2008 an appeal is warranted.

To check out your home's true value check out: http://www.capropertytaxsavers.com/