Your Los Angeles property taxes have not been adjusted since the value of your house dropped.
2010 should see a slight drop in Los Angeles homeowners’ property taxes because of a formula in Proposition 13 which says that property taxes can rise up to 2% in years where the federal Consumer Price Index rises 2% or more, which it does most years. In 2009 it fell. The difference on a $250,000 home, for example, will be a drop of $7, but an overall savings of $62, because of the $55 it did not increase.
350,000 of Los Angeles’ 1.7 million homeowners will not qualify for the property tax reduction because they were already adjusted in early ’09 during the height of the mortgage crisis.
Where do you go to get a reduction in your taxes?
Visit the Los Angeles County Assessor’s Office website to find out if your Los Angeles property taxes are going to be automatically assessed.
As of June 10 Decline-in-Value Review Applications will be accepted online and at District offices.
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