Tax Appeal

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Today I took the last batch of property tax appeals for the year to the Sacramento County Assessment Appeals Board at 700 H Street in Sacramento (as pictured below). Before I headed out of the office though I thought it would be interesting to calculate the difference between the Assessor’s property tax assessment and my calculation of fair market value. Guess what, when considering only these eight tax appeals, the Assessor’s Office had these properties valued higher by $2,860,000, which essentially means local property owners were scheduled to pay $30,000 more in property taxes than they should this year. Ouch.  

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Today was the last day to appeal property taxes for 2009 in Sacramento County (and in most if not all counties in California). If you did not dispute your taxes this year, you will have the opportunity to do so next year. You can expect new assessments for 2010 to come out at some point between May to July 2010 depending on which county you are located in. The assessment appeals period will then go from July 2010 to either September 15, 2010 or November 30, 2010 (depending on which county you are located in). Remember, your property assessment for next year will be based on your property’s value on January 1, 2o10.

If you have any questions or a story to share, comment above.

www.lundquistcompany.com/blog Assessor Value vs. Market Value: A Difference of 2.86 Million Dollars

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Yesterday I posted a graph showing the difference between assessed value and market value. Today I have one more real-life example of this phenomenon. The property below was assessed at $210,000, and after my tax appeal process I determined the home to be worth $130,000. That’s quite a difference and represents roughly $800 in taxes. Ouch.

Subject Property Competitive Sales Past 2+ Years Trend Graph by Lundquist Apprasial Company for Tax Appeal

The subject property is around 1400 square feet and all blue dots above represent the past 2.5 years of neighborhood sales between 1200-1700 square feet. This range of square-footage is meant to show comparable properties to the subject since a typical buyer would likely look in this range when house hunting. The vertical line represents January 1, 2009, which is the date of assessment.

As you can see, an assessed value at $210,000 looks higher than basically all sales in the neighborhood, and actually more consistent with a home value from previous months or years. It’s true that a property can sometimes sell at the highest level in the neighborhood, but the subject property does not warrant such a circumstance. When observing recent sales above $150,000 in the market, it’s clear that the vast majority of these sales come from superior tracts in the market area or are remodeled throughout (sold above all other sales because of upgrades). 

I am not saying the Assessor’s Office gets it wrong in every case. That’s not true, and I certainly do not wish to vilify the Assessor because that’s not the way I do things. I’m simply saying that in this case, and in others I have worked on lately, assessed value should have been much lower. I typically take on tax appeal situations where the home owner is clearly over-assessed, and so there is an obvious potential economic savings to be had. Most of the properties I did not take on this year were assessed fairly well or off by 5-10% (too high). 

If you have questions, give me a call at 916-595-3735.

www.lundquistcompany.com/blog The Assessor says $210k, but Market Value is $130k: A Real Life Property Tax Appeal Situation

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This is a graph I put together earlier today for a home owner as part of the total package for appealing his property taxes. All dots represent model match sales over the past three years in a specifically defined neighborhood in the Sacramento area. The Assessor’s Office bases their value for this year on January 1, 2009, which is represented by the vertical line. For reference, I also included all model match sales through November 2009. What do you see? How does this graph strike you?

Graph by Sacramento Tax Appeals

When looking at all model match sales, it’s not hard to see that the Assessor valued this property too high. In this case, the assessed valued was only about $30,000 higher than true market value, but this amount is still $300+ out of the home owner’s pocket for the year. It’s more common for me to help property owners dispute their taxes for residential properties when there is a greater savings of $500, $1000 or even thousands of dollars, but in this instance the home owner felt strongly about moving forward to contest the Assessor’s value.

Let me know if you have any questions. You are welcome to call me at 916-595-3735 or visit www.SacramentoTaxAppeals.com. Remember, the deadline for appealing property taxes in many counties surrounding Sacramento is November 30, 2009.

www.lundquistcompany.com/blog The Assessor’s Value vs. True Market Value

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This is an important reminder. The deadline to appeal property taxes in Sacramento County and most surrounding counties is November 30, 2009. I run a website called www.SacramentoTaxAppeals.com to help property owners in the Greater Sacramento Region in the process of disputing property taxes. We also handle commercial tax appeals depending on the property. We’ve been getting quite a few calls from local property owners lately because the deadline is quickly approaching.

Disputing property taxes does not make good economic sense for everyone, but if it does (or might) for you, let’s talk. If you have questions about the appeals process and whether you might be a good candidate to contest your property taxes this year, feel free to call 916-595-3735 or email me at ryan@SacramentoTaxAppeals.com.

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SacramentoTaxAppeal-screenshot-smallThe deadline for appealing property taxes in the following counties in the Greater Sacramento Region will be here very soon (especially in Placer County). Please have a look at the information below and let us know if you have any questions. We are available to help home owners understand the property tax assessment and appeals process, and to assist home owners in disputing their property taxes if it makes good economic sense for them.

NOTE: If the Assessor sent you a letter and specified a certain appeals deadline for your property, whether commercial or residential, then disregard the deadlines below and stick with what your local Assessor said.

County / Deadline for Formally Appealing Property Taxes

  • El Dorado County (November 30, 2009)
  • Merced County (November 30, 2009)
  • Placer County (November 30, 2009)
  • San Joaquin County (November 30, 2009)
  • Sacramento County (November 30, 2009)
  • Solano County (November 30, 2009)
  • Stanislaus County (November 30, 2009)
  • Sutter County (September 15 if they sent you a letter in the mail, but otherwise November 30, 2009)
  • Yolo County (November 30, 2009)
  • Yuba County (November 30, 2009)

You can visit our website at www.SacramentoTaxAppeals.com, call us at 916-595-3735 or email us at info@SacramentoTaxAppeals.com so we can look into your situation and figure out if appealing your property taxes looks like a good move for you this year. We look forward to hearing from you soon.

http://www.lundquistcompany.com/blog Reminder: When is the deadline for appealing property taxes in various counties? (Sacramento, Placer, Yolo, El Dorado, San Joaquin, Stanislaus, Merced, Sutter, Yuba, Solano)

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If you live in Yolo County and would like to see what the Yolo County Assessor says your property is worth for the 2009-10 property tax assessment, click HERE.

YoloAssessorRemember, the assessment figures are supposed to be based upon the worth of your property as of January 1, 2009. If you think the Assessor didn’t get it right for your property, let’s talk soon and explore what your options are. If it makes good economic sense for you to appeal your property taxes, then we’ll be glad to provide our services to you.

By the way, per the Yolo County website, the Yolo County assessment Roll is over $20 billion and consists of more than 62,000 assessments.

http://www.lundquistcompany.com/blog  New Assessments Available in Yolo County for 2009-10 Tax Year

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PlacerIf you live in Placer County and would like to see what the Placer County Assessor says your house is worth, click HERE. Please note that the aforementioned link to the Assessor website asks you to provide your parcel number in order to view your assessed value.

If you don’t know your parcel number or need some help looking it up, just give me a call at 916-595-3735 and I’ll look it up for you (or I can email it to you). I am happy to help where I can. Remember, the assessment figures are supposed to be based upon the worth of your property as of January 1, 2009. If you think the Assessor didn’t get it right for your property, let’s talk soon and explore what your options are. If it makes good economic sense for you to appeal your property taxes, then we’ll be glad to provide our services to you.

By the way, according to the Placer County Assessor: The 2009-2010 Placer County Property Assessment Roll consists of 174,088 assessments with a value of $ 56.5 billion dollars.

http://www.lundquistcompany.com/blog  New Assessments Available in Placer County for 2009-10 Tax Year

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What do you think of our new video? We help home owners in the Greater Sacramento Region appeal their property taxes and the video below is geared toward the Anatolia Neighborhood in Rancho Cordova. You can see our regional video HERE. Have a look below or view our YouTube page at www.youtube.com/lundquistco to sneak a peek at all videos.

We are glad to help home owners understand the process of appealing property taxes and we can take a closer look at your situation so that we can figure out if it even makes sense for you to dispute your taxes this year. We serve home owners in the following counties: Sacramento, Placer, Yolo, El Dorado, San Joaquin, Stanislaus, Merced, Yuba, Sutter and Solano. We cover a wide territory and we’ve been getting a good deal of phone calls and business lately from curious home owners throughout the Sacramento Region.

Our phone number is 916-595-3735 and our regional tax appeal website is located at www.SacramentoTaxAppeals.com. You are welcome to email us too at info@SacramentoTaxAppeals.com.

 

http://www.lundquistcompany.com/blog  How to Appeal Property Taxes in Sacramento, Placer, Yolo, El Dorado, San Joaquin, Solano, Stanislaus, Merced, Yuba & Sutter Counties

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What do you think of the new video for our property tax appeal business? You can view it directly HERE too.

 

http://www.lundquistcompany.com/blog  Lower Your Property Taxes in the Sacramento Region: A Video

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imagesToday is July 2nd and do you know what that means? You can now dispute your property taxes if you feel the Assessor did not get it right this year. If you plan to contest your property taxes in a county near the Sacramento Region, then you must do so between now and November 30, 2009 (Sacramento County) or September 15, 2009 (other counties such as Placer).  

If you would like assistance in disputing your residential or commercial property taxes, you can hire us as a consultant for a very affordable and reasonable fee. We serve home owners in multiple counties and in cities such as Citrus Heights, Rancho Cordova, Sacramento, Folsom, Roseville, Rocklin, Lincoln, West Sacramento, Davis, El Dorado Hills, Stockton, Tracy, Fairfield, Vallejo, Patterson, Los Banos and many others. Please see our property tax appeal website at www.SacramentoTaxAppeals.com  Remember, the first step is to call us at 916-595-3735 to discuss your situation. Let’s figure out if filing an appeal this year looks like it makes good economic sense for you. We work with home owners all the time and it would be our privilege to assist you.

http://www.lundquistcompany.com/blog  July 2 = Today = First Day to Dispute Property Taxes in the Sacramento Region

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I have talked on this blog about my property tax appeal company as it relates to residential properties, but now I want to make it a point to mention commercial properties in the Sacramento Region.

What’s the difference in requirements for residential vs. commercial property tax disputes? Not much. The process and timeline for contesting property taxes for commercial properties in the Sacramento area is the same as residential. The exact same application is filled out (Application for Changed Assessment) and the County Assessor asks the commercial property owner to provide the same thing as would be provided in a residential tax dispute - evidence for a true opinion of market value as of January 1, 2009 (that’s where we come in).

Our company at SacramentoTaxAppeals.com handles residential and land property tax appeals for the bulk of our work, but we also collaborate with an experienced General Real Estate Appraiser who handles the commercial properties ordered through our company. Please contact us today so that we can understand your situation and the type of property you have so that we can figure out the depth of work necessary for your tax appeal needs. A full commercial appraisal may not be necessary (we all know how much commercial appraisals can cost). Call us today at 916-595-3735 for more information.

Keep in mind that the time-frame to dispute commercial property taxes in Sacramento County is July 2, 2009 to November 30, 2009 while in Placer County and some surrounding counties the time-frame is July 2, 2009 to September 15, 2009.

http://www.lundquistcompany.com/blog  Commercial Property Tax Disputes in the Sacramento Region

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Our appraisal company runs www.SacramentoTaxAppeals.com and we are your local source for disputing property taxes in the Greater Sacramento Region. If you are considering contesting your property taxes, this is our process:

SacramentoTaxAppeal-screenshot-small1)  Contact:  Call or email us to let us know what your property address is and a little bit about your property.

2)  Discuss:  Let’s talk about your situation and if it looks like there is an advantage for you to appeal your taxes. Filing an appeal does not make sense in every case.

3)  Decide:  Which package works best for you? We offer a “Gold” package at $99.00 and a “Platinum” package at $169.00.

4)  Relax:  We’ll handle your property tax appeal in a professional and timely manner.

Feel free to reach us by phone at 916-595-3735 or email at LundquistCompany@gmail.com  We look forward to discussing your situation and figuring out what is going to best suit your needs and situation.

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