Real Property

Real Property

Both land and the buildings and structures on the land are considered “real property.” The County Assessor’s Office determines your tax liability in this case. You have the legal right to challenge your property tax liability if you believe you are being over-assessed on your taxes. That is where we come in.

 

Paramount Property Tax Appeal will represent you throughout the entire process on the property tax appeals. We can do so on ALL types of real property in California, Nevada and Arizona:

» Self-Storage» Manufacturing

» Gas Stations

» Land

» Apartments

» Office

» Retail/ Shopping Centers» Car Dealerships

» Hotels

» Warehouses

» Single Family Residences

» Medical Offices

 

For California Properties with few exceptions there are basically two categories of appeals:

 

Decline in Value

Proposition 8 required the County Assessors office to annually assign either a property’s “Prop 13” trending value or its current market value as of January 1, whichever is less. This process reduced the assessed value for the current year only and was not retroactive. This did not create a “new factor basis year.” In other words, your tax liability could significantly rise in subsequent years after you have won your appeal for prior years. Typically this type of appeal applies to one year only. “Click Here for California Property Tax Filing Calendar.”

 

Base-Year Appeal

These appeals are for the newly assessed values that arise during a change of ownership or new construction. Applicants must file an appeal within 60 days of receiving a “supplemental bill” for the property. However if they file after the 60 days it can negatively impact the refund they can receive. Unlike a “Prop 8″ appeal, these appeals establish a factor base value of the property ownership history. Often the Assessors Office designates a higher value than the actual purchase price value of the new construction. “Click Here for California Property Tax Filing Calendar.”