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It’s not a secret; everyone knows the real estate market and the economy are in a decline. We all tend to spend more money during the holidays, and with them being right around the corner there are many things we can do to help you save. This is your chance to have a little extra for this joyous time of year.

Many of you are eligible for a property tax refund and reduction for future years and don’t even know it. If you purchased a home during the height of the market (2003 – 2007) you probably paid more than it is currently worth. If you can prove to the county assessor that your home’s current value is less then the current assessed value is, they will lower it and you will receive a refund for the current 2008 tax year and reductions in future tax years.

The County has tried to help some homeowners in certain areas and lower their assessed values automatically. These areas are few and far between. If you have received an automatic reduction you really want to make sure your reduced assessed value is really as low as it should be. These automatic reductions are typically computer generated and on many occasions we have found they are not low enough, potentially costing the homeowner hundreds if not thousands in paid property taxes every year.

The November 28^th 2008 deadline is rapidly approaching and you can do all of the work and research on your own, but unfortunately it is not as easy as it sounds. First, the paperwork must be filled out 100% correctly and the correct forms must be used. All paperwork must then be submitted to the correct county agency. We suggest never mailing it, physically bring it in, get it time and date stamped and make sure you get a copy! The county will review your application; you must wait for a response and possible negotiations with a county appraiser. Lastly, you might have to take part in a formal hearing, which means time off of work. Going through this entire process still does not guarantee a reduction in your assessed value, but hiring a professional increases your chances significantly.

As with anything new there are always individuals and companies ready to take advantage of certain situations. This is no different. There are no rules or regulations of who can be a “tax agent” and we have seen individuals with absolutely no “valuation” experience start companies such as ours without a clue on how much work this really takes. This is only detrimental to the homeowner reducing the chance of a successful property tax appeal.

The county has professional licensed appraisers working for them. We always suggest hiring an expert to review your home’s current assessed value to maximize the reduction and refunds you could be eligible for. California Tax Refunds is a San Diego BBB Accredited Business that only allows licensed California appraisers to review property tax appeals and strongly advises clients to get experts working on their side. You can prepare personal or business taxes on your own, but most choose to hire an accountant or CPA. In just minutes we can determine if you qualify for a refund, give us a call today, (619) 283-3300 or visit our website www.cataxrefunds.com.

All of us at California Tax Refunds, LLC wish you a happy and health holiday season!!