As you may have experienced and or heard form you neighbors, most buyers that purchased from the end of 2005 to the end of 2006 may have experienced a decline in value of their homes.

If you or one of your friends, relative, or neighbor has experienced such event, you are not alone. 

You may qualify for a reduction in your property taxes as per proposition 8, section 51 of the Revenue and Taxation Code. You must fill out the form, Decline in Value Reassessment Applilcation (prop 8)

Procedure:

1.- You will need at least two comparable homes to your own home that were sold between January 1st. 2010 to March 31st. 2010http://acetaxandrealty1.com/virtualoffice_files/755P-AS3RS0 2010 Decline-in-Value Reassessment Application (Prop 8)[1].pdf.

2.-  You must fill out the form decline in value and turn it in to the Riverside County Recorder's clerck office. You may down load and print the decline in value form using the link below available also at the Riverside county Assessors Clerk Recorder.  After you have filled out this form, you must send it or bring it in person to the Assessor-County Clerk Recorder with two supporting comparables to establish new assessed value.  decline in value for 2010If you just want an estimate of what you would potentially save if you submitted you decline in value request click here. DECLINE IN VALUE FORM

If you missed the dead line to submit the form you may need to wait until the following time frame allowed by the County of Riverside

If you need assistance please contact us.