Property Tax Reassessments in Long Beach & Southern California
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Owners of Long Beach Real Estate and other Southern California Real Estate need to contact the County Tax Assessors office as soon as possible to have your homes and condos, as well as any other real estate holdings, reassessed to todays new market values and have their property tax liability reduced. Currently property taxes are based on .125% of purchase price and are then adjusted over time, based on assessed value.
Recently consumers have been inquiring "When will our property taxes be reassessed to the new and lower market values?" Well that is an excellent question and one that was recently addressed in an article in the NY Times, 'Taxes Are Reassessed in Housing Slump'. The article states:
"in 2007 roughly 1,800 homeowners asked for reassessments in Los Angeles County, far above the average of about 500, yet far below the tens of thousands of homeowners inLos Angeles who looked for tax adjustments during someyears of the downturn in the 1990s."
1,800 homeowners is a small fraction of the residents of the Southern California and Long Beach Communities. Reduce your tax liability, contact the Los Angeles County Tax Assessors office as soon as possible to begin the process.
In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a decline-in-value. Information on Proposition 8 can be found here.
If you disagree with the assessed value of your property, you should contact the Assessors Office to request a review of the value. If the matter is not resolved to your satisfaction, you may then file an appeal with the Assessment Appeals Board.
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"As your Realtor® it is my job to market and 
Tom Reeves, City Prosecutor said 2 Long Beach Senior
Citizens were contacted on Friday by people claiming to be members of the Social
Security Administration. Both women were
told that they didn't need to pay their Medicare premiums and were told that
the representative would be in their Long Beach neighborhood today to discuss it with
them. The women were then asked what
time they would be available. But hey,
we don't raise fools here in Long
Beach; both women hung up on them and contacted the
authorities. 






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