Property Tax Reassessment Scams Rising
With property prices going down you can ask for your property to be reassessed (at least in California) if the assessed price is higher than the current value. Because of prop 13 in California this only applies if you bought it recently at the height of the real estate bubble.
Here’s the scam and your rights from the Los Angles County Assessors web site:
Various private companies are sending mailings to property owners offering their services to pursue a reduction in their property taxes. These companies may charge hundreds of dollars to file for a reduction in value on behalf of the property owner. Some companies are even imposing late fees if the application is received after an arbitrary deadline.
Be aware that solicitations from private companies offering to pursue a reduction in property taxes must clearly indicate that they are NOT a government agency and that their services are NOT approved or endorsed by any government agency.
Failure to provide such notice is a violation of California law. If you or someone you know receives an illegal solicitation, please contact the Los Angeles County Department of Consumer Affairs by phone at (800) 973-3370 or visit their website.
Read the whole article at the Los Angles County Assessor’s site.
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