Do it yourself: property tax review

If you own property in Los Angeles that you bought within the last five years, chances are something good can come out of this economic downturn for you.   You might be eligible for a "Decline in Value Reassessment" if the value of the properties in your neighborhood are currently less than what you paid.  Why is this good?  Because if they reassess your property, you pay less property tax.  Visit the website of the L.A. County Assessor to read more about this.

 

Another part of this story is that this process is easy to do yourself, so PLEASE don't use one of the multiple "middleman" services that are sending unsolicited letters to homeowners all over the state.  The L.A. County Assessor's office is even warning against using these services, which you can read about here.  So, do yourself a favor (and save yourself the $179 fee), visit the Assessor's website and fill out the one-page application for reassessment yourself.  This could save you thousands of dollars!