FAQ's
How can my Property taxes be lowered?
Example:
If you purchased your home for $500,000 during the real estate boom and now the current market value of your home is $400,000. With this 20% reduction in market value, or $100,000 less, this will save you:
$100,000 X 1.25% = $1,250 per year in savings!!
Can the new assessed value be changed after my taxes are reduced?
Although the annual increase for Proposition 13 is limited to 2% annually with inflation, the same restriction does not apply to values adjusted under Proposition 8.
The new "Prop 8 Value" is a temporary reduction. All "Prop 8 Value" properties are automatically reviewed every year by the assessor. As the market stays down you will continue to save money every year. When The Proposition 8 market value exceeds the original Propostion 13 value (Factored in 2% inflation), the assessor simply reinstates the factored Proposition 13 value with no penalties.
What if my taxes are impounded with my mortgage payment?
LowerMyPropertyTaxes.com will guide you on the easy process of having your new "Prop 8 Value" and new tax assessment filed with your current mortgage company to have the payment reduced.
What if I've refinanced my home?
Refinancing does not affect your assessed property value. The assessed property value is based on the purchase price of the home.
