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Property Tax Scams
It has been observed by California Real Estate commissioner Jeff Davi that hard times beget hard criminals. Scams have arisen that homeowners should be aware of that have semi legitimate sounding realty terms like "property tax reduction", "foreclosure rescue" and "short sale facilitation".
The property tax reduction scams are often private companies impersonating government agencies soliciting property owners to file a tax assessment appeal, which the scammers will facilitate for a small fee. The Los Angeles County Tax Assessor has written a warning that can be seen on his web site about the dangers of this tax scam. Mailings by these private companies offering their services for hundreds of dollars are not illegal if they include full disclosure that they are not affiliated or endorsed by any government.
The Assessor's, as well as many other counties' offices discloses its own methods to obtain property values through a periodic review process. In 2008 the same LA county Assessor's office reviewed more than three hundred thousand home values, saving over one hundred and twenty eight thousand homeowners substantial tax expense due to readjustment of the previous values. On schedule to be reassessed for 2009 are an additional five hundred thousand homes. Should owners disagree with the assessment or were they not included in the sample then they are given until December to appeal the judgment at no cost.
Although the appeal and review process for tax assessments will vary from state to state, it is likely that this pay-for-an-appeal scam will be similar throughout all regions. Therefore the assessors that are warning people in their own states, also advise homeowners to check with their local realtor to determine the all important comp value. This comparison baseline is usually difficult for an individual to compile independent of real estate professionals, who will usually provide this service free of charge.
Assessors would like to remind property owners that the Fiscal year is from July to June of the following year. Therefore the assessment is a year behind the current years taxes. In California, where property values have plummeted homeowners are paying current taxes on last years assessment. This has a direct relationship with the comp values derived from recent sales as well.
Marin Real Estate Blog
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