Cost and value are not always the same thing. Our conclusion of RMV is based on what the property would sell for in an open market transaction. Not everyone can build their own home; those who can benefit from not paying labor costs see this savings reflected in the sales price of their property.
Construction on your new home probably began after January 1. Because January 1 is the assessment date, we cannot tax you for property that was not in existence on that date. That portion of your house that is complete January 1 of the next year will appear on your next tax statement.
The RMV is the Assessor’s determination of the real market value of your property. The AV is the value used to calculate your taxes. Typically it is the 1995 RMV minus 10%, which became the 1997 Measure 50 (M50) assessed value. Each year this amount is subject to a 3% increase, plus any exception value that arises from changes to your property improvements.
Property taxes are based on a tax rate per $1000 of assessed value. The rate is comprised of several different taxing districts that vary depending on the location of your property. Each district has an individual tax rate and the consolidated tax rate combines the rates for the various taxing districts in that area
Your taxes are calculated on the Assessed Value (AV) of your property. The AV is the lower of the RMV and the Maximum Assessed Value (MAV).
If the start date is before July 1 you have 30 days from the start/sign date to apply for exemption.
For a glossary of terms, please see this page.
To remove a deceased person’s name from an account, that person must have held title with someone else with the right of survivorship. The death certificate should be recorded with the County Clerk’s Office.
No. You must contact an independent fee appraiser for your loan appraisal.
Yes. You must provide documentation of the error.