Think your Lamorinda home value has dropped and want to challenge your property tax? Here’s how.
Before You File an Appeal, Talk to Your County Assessor First
Many county assessors request that you complete a short informal assessment or appraisal review form providing them with data to support why you believe your property's value is lower than your assessed value.
Here's the website to Contra Costa Assessor's Office
File an Appeal Only if a Difference of Opinion of Value Still Exists
If you decide to appeal, you must obtain form BOE-305 AH, Application , from the clerk of the board where your property is located.
Present Evidence to Prove that the Value You are Requesting is Correct.
The most reliable type of evidence to support your opinion of “fair market value” is the sale of properties similar to yours. These are called “comparable properties.” Below are guidelines of how to contact a Comparative Market Analysis.
Are the sales arm’s-length open market transactions?
“Was the property exposed for sale on the open market?”
“Was the property available for sale to anyone?”
“Did the seller have to sell quickly?”
“Was the property listed for sale with a Realtor?” Etc
Are the properties physically similar to your property?
Is it within 1 mile radius?
The number of bedrooms and bathrooms
Lot size & Interior sf
Quality of construction
Transactions got to be within 90 days on the valuation date for these comps to be considered
Too much to handle? Don't worry, reach out and I'll be happy to provide comps and latest data for your property. This is a service I offer my clients and friends.