I live in Los Angeles County, California. I have recently purchased a home. I am yet to pay the first tax for my property. My real estate agent says that I am liable for a tax of $8000 as per the purchase price of my house. He says that I may be eligible for some type of refund or reduction. Any info would be appreciated.
willgones,
We bought a house in California just prior to the previous drop in prices (16-17 years ago). So a year later, the value of the house had dropped from $285,000 to $235,000.
I filed an appeal for the taxes with the County Assessor’s office, and documented the $50,000 drop in value in our area by sending along “Sold” comparables.
We got a $500/year deduction in the taxes. It held for a few years until property started going up again. Then the house got reassessed.
Try contacting your County Assessor’s office on how to appeal your taxes. Good luck, and let us know what you learn.
Furnishedowner