I have just bought a new home and it looks like the Assessor has given it a value that is higher than Proposition 13 allows. What should I do?
A. Proposition 13 states that property is to go on the Assessor’s rolls at the full cash value at the time of purchase. This usually means the sales price resulting from a normal market transaction. Sometimes there are unusual circumstances, like the sale of a home on the market because of a foreclosure, that result in a sales price that the Assessor believes is less than the true market value. If you believe the Assessor’s valuation is incorrect, you should strongly consider an appeal because all future taxes will be based on the first-year value of your home. Call your local office of the County Assessor and discuss your valuation with an appraiser. If you cannot reach an agreement there, you should file an appeal with the Assessment Appeals Board in your county. Please note that there is a limited window of opportunity to file an appeal, and be sure you meet the deadlines. For contact information for your County Assessor, click here.
