IF YOU BOUGHT A HOME in the past few years, you might be eligible for a property tax reduction because your residence might not be worth as much as it was when you bought it.
Under Proposition 13, the property-tax-cutting initiative passed by California voters in 1978, property taxes are set at 1 percent of assessed value, and that assessed value can increase by no more than 2 percent a year. But when property values decline, homeowners might be eligible for a reduction.
Read more . . . www.contracostatimes.com/opini...320238
Under Proposition 13, the property-tax-cutting initiative passed by California voters in 1978, property taxes are set at 1 percent of assessed value, and that assessed value can increase by no more than 2 percent a year. But when property values decline, homeowners might be eligible for a reduction.
Read more . . . www.contracostatimes.com/opini...320238
