It is Property Tax Appeal Time

Colin Delaney August 1, 2012

Costa Mesa Real Estate Tax Appeals Due

My piece of Costa Mesa real estate just got this – did you too just get that ugly yellow envelope like I just did with your new taxes for your Costa Mesa real estate? UGH! It’s almost that time of year again. Don’t you love how arbitrary some of this valuation is? I bought my Costa Mesa home about four years ago, and in that time my assessment was lowered by $150,000 and then raised by $150,000! Lovely…

Anyway, as it says in the tax envelope, you are allowed to appeal your assessed value. I would highly recommend looking at this option if you purchased your home between 2006 and 2010 anywhere in Costa Mesa real estate. Our market has stabilized, but it wasn’t until the last eighteen months or so that it has balanced out.

How Do You Do It? It is Property Tax Appeal Time

The appeal process is pretty simple, although the assessor tries to make it a bit difficult to find the info:

The general info is found here on the assessor’s website.
The appeal form is a one-page form and is fairly straightforward. You just need to know your parcel number that the assesor uses to tax you.
You need to know what your home was worth on January 1, 2012 – more about that later.
Fill it out, and send it to: Orange County Assessment Appeals Board, PO BOX 22023, Santa Ana CA 92702
Then wait to hear whether they will reassess your tax base or you will need a hearing.

Comps?

Everything that you fill out is pretty straightforward – as for comparable sales (comps) in Costa Mesa real estate, it’s pretty simple. The tough part is the timeframe that they give you to analyze your property value for the 90 days following Jan 1, 2012.

They specifically say that you should talk to a Realtor about your property value for the 90-day period. If you need help, feel free to contact me. The period that they use is very difficult for most Costa Mesa real estate owners. Not many homes will sell between January and the end of March in a given year – most people wait for the busy spring selling season in Costa Mesa real estate, and most homes typically sell between April and August. The data, while being scarce at that time of year, might just help you, especially if homes around you are selling for less.

The wording that they use in some of the docs is confusing, but know this: You must file an appeal prior to Sept. 1st before you receive your official tax bill.

What’s the worst that can happen? I guess they can say no, but it is worth a try.

Call Colin at (714) 743-9882 if you need help with your Costa Mesa real estate appeal or E-mail me. I am happy to help.