No more Assessment appeal filing fees Taking a small but positive step for local taxpayers, the Santa Clara County Board of Supervisors has just offered a token to property owners who are dissatisfied with their assessed values for real property tax purposes by repealing the $40 fee for filing an assessment appeal. Adopted in 2007, this filing fee has now been eliminated … [Read more...] about No more assessment appeal filing fees, Santa Clara County’s early holiday token
Tax breaks for seniors If you’re age 65 or over, you’re likely quite familiar with the many advantages you can receive for having reached that milestone. A number of agencies responsible for administering these benefits (e.g., Social Security, Medicare) expend significant amounts of time and money on education and outreach efforts to help ensure awareness among those persons … [Read more...] about Tax breaks for seniors and low/fixed income taxpayers in California
Assessed value of your California real property holdings If you’re like me, this time of year brings with it some trepidation as you await the arrival of the annual notice from the county tax assessor’s office informing you of the current assessed value of your California real property holdings. If so, you may be curious why the assessed value of your California real estate … [Read more...] about Why did the assessed value of your California real estate increase by more than 2% this year?
Property tax assessment The notification of assessed value sent out to them by California county tax assessors for real property tax assessment purposes. Benjamin Franklin famously noted that, “in this world nothing can be said to be certain, except death and taxes.” For holders of commercial and residential real property in California, the start of summer heralds an important … [Read more...] about Property tax assessment, California real estate owners: It’s time to look
When real property located in California is exchanged (1031 exchange) for property located outside California, the gain realized from the California property that is deferred under section 1031 remains a source of California taxable gain on the sale of the second property . Didn’t know this? Neither did many exchangers of California property, with the consequence that all too … [Read more...] about California to require annual reporting following like-kind exchanges of out-of-state property