Today I would like to try to save you and your friends some cash on your next property tax bill. If you currently don't own real estate please feel free to forward this email to your friends and family that may benefit from Prop 8. Proposition 8 – What is it? Will it save you money? In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” A decline-in-value occurs when the current market value of your property is less than the current assessed value as of January 1. If you purchase d your home or investment property during or after 2003 your current assess ed value may qualify for a reduction. Spring is the time to utilize Prop 8 and start saving money on your property taxes! One client I counseled recently will save over $135.00 per month on their property taxes. You can save about 1.25% for each dollar of reduced assessment. For example if your property ass...
Your source for accurate and topical information about real estate with a focus on points of interest, issues and trends as a real estate service for the citizens and community that call Santa Clarita Home!