A Sample of the Savings we have achieved for our Clients
| Zip Code | Prior Assessed Value | Prop8Pros Reduced Value | Total Reduction | % |
|---|---|---|---|---|
| 92592 | $517,835 | $400,000 | $117,835 | 26% |
| 90631 | $771,180 | $550,000 | $221,180 | 30% |
| 92240 | $330,768 | $216,125 | $121,643 | 37% |
| 92590 | $997,700 | $827,000 | $170,700 | 17% |
| 92563 | $664,000 | $425,000 | $239,000 | 36% |
| 92883 | $632,400 | $457,000 | $175,400 | 29% |
| 92129 | $334,280 | $220,000 | $114,280 | 35% |
| 92562 | $560,000 | $403,000 | $157,000 | 29% |
| 92532 | $453,900 | $300,000 | $153,900 | 34% |
| 92562 | $1,450,000 | $973,000 | $477,000 | 33% |
| 92584 | $397,800 | $288,000 | $109,800 | 28% |
| 92562 | $487,000 | $359,000 | $128,000 | 26% |
| 92562 | $427,000 | $310,000 | $117,000 | 27% |
| 92562 | $544,170 | $424,000 | $120,170 | 22% |
| 92585 | $540,600 | $424,000 | $116,600 | 22% |
| 92833 | $285,294 | $207,000 | $78,294 | 28% |
| 92592 | $572,220 | $433,500 | $138,720 | 24% |
| 92592 | $459,000 | $328,000 | $131,000 | 29% |
| 92562 | $468,180 | $266,833 | $121,293 | 43% |
| 92563 | $429,293 | $308,000 | $201,347 | 28% |
Purchased During the Peak - The Murrieta/Temecula Bugle Article - May Issue
I read an article earlier this year that said the United States is deep into its worst housing slump since the Great Depression. As most of us are well aware, Murrieta/Temecula real estate is not what it was a few years ago and property values have dropped significantly in most areas. More than one out of three Southland homes that resold last month had been foreclosed on at some point in the prior year. This time last year such sales were only 8 % of the market. That's the bad news.
The good news is that for the hundreds of thousands of property owners that purchased during the peak of the market between 2004 and 2007, the current decline in value brings with it the opportunity to save money by lowering property taxes with county assessment appeal applications. Proposition 8 allows for a reduction in assessed value when properties suffer from a decline in value. Every property owner that purchased during the peak should add filing an appeal to the top of their to-do list - saving hundreds or even thousands of dollars in annual property taxes is well worth it!
Property Tax Savings - The Murrieta/Temecula Bugle Article - April Issue
California property owners can take advantage of the current declining real estate market and save money by reducing their annual property taxes. Prop 8 states that when a property suffers from a decline in value, the owner has the right to appeal to the county assessor's office to lower the annual property taxes.
Prop 8 requires the county assessor use whichever value is lower (assessed value or market value) when calculating a property's annual tax (lower value = greater savings). Prop 8 can help virtually all California property owners that purchased within the past few years because current market values are lower than the original purchase price. However, the savings are not automatic . . . .
Every county is different and operates independently with their own set of appeal forms, instructions and deadlines that the property owner or their Agent of Service must obtain, complete, and monitor. In addition, the counties require that certain evidentiary support be submitted along with the appeal to defend the lower value. Now is the time to take advantage of the decline in property values and save money on your property taxes.