In the next few weeks you should receive a postcard from your local county assessor denoting your 2009 / 2010 property taxes. For most in Santa Clara County you should see a pleasant surprise. This is especially true for East San Jose, Morgan Hill, and Gilroy residents where home prices are down as much as 40% compared to 2007. Nonetheless, don’t loose heart if you live in the high value communities of Los Altos, Sunnyvale, Cupertino, Mountain View or even Palo Alto your taxes should be lower too.
When you receive your property tax assessment, carefully check out the projected property value and the taxes due. If you agree with the numbers, relax you’ll get the tax bill in September. If the value seems too high, don’t dispare you can appeal the stated value and subsequent property taxes.
The process for appeal is straight forward however the window for dispute is very short. The appeal time for this year is from July 1 to September 15, 2009. To appeal your 2009 /2010 property taxes you need to complete a Prop 8 appeal form. While no one wants to see the value of the home drop, the silver lining could be lower property taxes.
If you have specific questions about your Silicon Valley property taxes, feel free to contact us at StynesGroup.com.