Legal Question in Real Estate Law in California

Part of her job is to determine the fair market value of property. Sales price is one factor, but not the only one. What do you think the property is really worth? You can ask for a re-evaluation and appeal that decision, but they can aways go even higher.

If you want to use my services, I can write her a letter. I have dealt with a similar issue and may have a solution to get assessor to change their position.

Best,

Daniel Bakondi

870 Market Street, Suite 1161

San Francisco CA 94102

Daniel Bakondi, Esq. [email protected] 415-450-0424

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I agree with Mr. Shers. The assessor's job is to consider all available information and factors to determine the market value of the property. This is necessary, among other reasons, to prevent scams such as the following: X and Y own nearly identical tract houses across the street from each other, each worth about $300,000. X sells his house to Y for $30,000. Y sells his house to X for $30,000. Each asks to be taxed based on $30,000. For obvious reasons, the taxing authorities have to diagnose this little scheme as a fraud and keep the taxes based on the fair market value. Sinilarly, even where there is a genuine reason for a below-market sale, the assessor has a duty to determine and tax at fair market. Only an arm's length sale between strangers, with no sweetheart pricing or financing, and no dumb mistakes by the seller, will qualify as an accurate basis for a new appraisal. All other deals are subject to scrutiny and reevaluation.

You should ask for a re-evaluation. Also your taxes may be limited by Prop 13 to 1.19% or something close to that of the purchase price. The assessors in your neck of the woods have been doing a lot of write downs due to the plummeting real estate market based on all the foreclosures so you should have some success here.

Good luck and hope this helps.