Is your property tax assessment too high?

In the 4th quarter of 2022, Santa Clara County home prices bottomed out after 6 months of interest rate hikes and sliding home values. The property tax assessment for many home owners on January 1st from the county tax assessor’s office may have been higher than market value for that day, depending on which comparable sales or comps that office used.

If your property tax assessment for this year came in a little higher than market value, you may be able to appeal that assessment.

 

Property tax assessment bill - the annual county tax assessor's office will issue the valuation to home owners on this card each September or October

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Appealing the property tax assessment

 

The county tax assessor’s office uses comparable sold properties, or comps, just like you or I would do, to try to determine the current market value of your home.  The comps used may or may not be the best or most realistic – they could be too dissimilar in size, location, or amenities, for instance.

If they aren’t good, you may be able to get your home’s assessed value, and hence the bill, reconsidered if you present better data and explain why your data is more accurate.

No one wants to see their property values depressed, but if it does happen, there may be a small silver lining: getting slightly lower property taxes, at least for a while.

 

How to appeal your property tax assessment

START HERE TO APPLY – you will find the prerequisites, the instructions, and the login to begin. (Have your comps ready!)

Information on appealing can be found on the county tax assessor’s office website.  This page has links and information on the process and procedures of appealing the valuation.

The appeal application form can be found here:  Assessment Appeal Application form

The folks in charge of the property tax assessment and appeal process, the review, and the hearing are:

Assessment Appeals Division
70 West Hedding Street
East Wing, 10th Floor
San Jose, CA 95110
Phone: (408) 299-5088
Fax: (408) 298-8460
Email: AssessmentAppeals@cob.sccgov.org

It’s actually very straightforward to appeal your property tax assessment: you simply complete the form and submit it online together with PDFs of your comparable sales to provide support for the lower valuation. The application form states at the end: “The request must contain the basis of your opinion of value. Please include comparable sales, cost, and income data where appropriate to support the value.”
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Selling Your Silicon Valley Home: Staging & Color

When Silicon Valley home owners prepare their property for the competitive real estate market, they want to get a good return on their investment of time and money.  Often the best staging work is a matter of decluttering, updating or improving floor coverings, wall coverings fixtures and countertops.  It’s what I call “lipstick and rouge” rather than cosmetic surgery.  Please remember that the shift is from this being “your home” and a reflection of you to a product you wish to sell.  So it’s got to be appealing to the market more than anything else – and that means taking your own personal taste out of the equation.

Today let’s talk staging color.

Color for Staging

Years ago, the conventional wisdom was that all San Jose, Los Gatos or Santa Clara County home buyers wanted white walls “because it makes a home look bigger”. It is true that lighter colors tend to help with the light, bright and airy look, but all white is also all boring.  All white homes can be difficult to sell and too frequently those homes sell for much less or do not sell at all!

Do you find that the all-white look is the most appealing? Most buyers would say not – that a splash of color makes the room “pop” and more interesting and desirable. At the same time, you don’t want to overwhelm them with it!

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