property tax
Property Tax Management Software - Making Your Property Managing Easier
Property tax management software will allow you to have full control of your managerial responsibilities quickly and easily. It allows you the ability to have control over your time and use it for other things.
Why Should I Bother Understanding Property Taxes
Property Taxes are the highest expense after debt service (mortgage) for homeowners and knowing property taxes and assessments can only benefit you as a taxpayer. The average taxpayers who acquired a home in the past six years pays about $7,000 per year in property taxes which equals to almost $600 monthly. After ten years the quantity of property taxes paid cumulatively will be more than $70,000! If that homeowner can reduce their assessment where they save $2,000 per year over the next ten years, you will save $20,000! Being a knowledgeable homeowners about the three aspects of property taxes, appraisal, assessment and government process, enables you to save thousands in the long run.
How Does Prop 13 Work?
Current California Property Tax Law applies to all property owners in the state of California. Current California Property Tax Law was put into law as part of the California Constitution in 1978 by voters to control the amount of property taxes paid by taxpayers. Before Prop 13 there was no limit to help taxpayers on property taxes. The assessed value was based on the varying home values every year and because the market values increased substantially over time in California, the amount of property taxes increased tremendously. As the values of the real estate went up over time, older folks on fixed incomes were being driven out of their homes unable to pay the property tax increases.
What Led Me to Create the Little Black Book
I applied with the Los Angeles County Assessor’s Office early 2003, I was one of 900 applicants for 25 positions as a Real Estate Appraiser Trainee. I was one of the 25 chosen for the class they hired that year. As a trainee I went through an 18 month probation period and a 12 month training with them including classroom training, many exams, field training in all aspects of real estate appraisal, property tax law and the processes within the Assessor’s Office. If had I failed any one of my series of exams or gotten a bad performance review I would have been kicked out of the program.
