Thursday, September 11, 2008

Time to Reassess Your Property's Value

Some property values in San Francisco have undoubtedly dropped over the past year. This means that you could be paying more property taxes than you should.

The Assessor's Office reports 1,600 requests for informal property value reviews since May 2008. But it's important to note that, according to City Assessor-Recorder Phil Ting, those 1,600 requests represent less than 1.5 percent of all residential property owners in San Francisco. He cites San Bernardino as a comparison, which has received 132,235 requests.

For some owners whose condo building had even one foreclosure sale in the past year, for example, it may be time to file a request for a review. For more information, you can visit the Assessor's Web site to see what's possible.

No comments: