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Discussion Forum Index --> Tax Questions --> County's Property Tax Assessment
Jlcl (talk|edits) said:
| 21 June 2007
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| I received a revised property tax bill for a commercial office condo I purchased last year. The county raised the assessed value significantly (almost doubling the original assessment) to the purchase price of the condo. I believe that the revised leasehold improvement assessed is too high (however it is within the same land/LHI ratio as the original assessed value), but is it standard that the county raised the property value to the transferrred price of the last transaction price. Is it worth contesting with the county's assessor's office to get a reduction in leasehold improvement value allocated?
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Death&Taxes (talk|edits) said:
| 21 June 2007
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All politics and property assessments are local. Unless any of us are from the same general area, I doubt there is a rule you could use.
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Dennis (talk|edits) said:
| 21 June 2007
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| As a former Assessor, the general rule is logistically all properties cannot be revalued every year so revalue typically occurs when something (like a sale) causes the property to be noticed. New guy gets clocked. On the other hand, municipality wide revaluations do occur, and then the old guys get clocked.
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Michaelstar (talk|edits) said:
| 22 June 2007
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| In the state of CA - unless there is a reason for exemption - parents to child, over 55 and a few others - properties are reassessed upon the transfer of the property via a sale. It takes a while for things to catch up. Properties are reassessed to the full sale price - that is standard and is common knowledge. They then send out a supplemential bill to catch up on the difference from the day of the closing.
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Death&Taxes (talk|edits) said:
| 22 June 2007
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| And there generally are attorneys who specialize in the Tax Appeal process.
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Unless any of us are from the same general area, I doubt there is a rule you could use.
