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Homeowners Who Bought During the Boom are Saving Money By Reducing Property Taxes

Audio

Aired 4/20/09

Maureen Cavanaugh: We've been hearing for months now how home values are falling across the country and of course, one of the hardest hit areas is right here in Southern California. If your home has dropped in market value to less than you paid for it, or less than its last assessed value, there's not much to celebrate except for the fact that you could get a break on your property taxes. The number of San Diegans requesting a property tax reassessment skyrocketed last year. And now, there are even websites available to help you through the reassessment process.

All of this comes at a time when, because of provisions outlined in Proposition 13, many homeowners may see their property taxes actually go up about 2 percent this year. We'll be talking about the ins and outs of property tax assessments, and we'll be taking your calls on the subject.

 

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