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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Property Taxes During Foreclosure Posted by Geri on June 22, 2010 at 9:30 PM In Reply to: Property Taxes During Foreclosure posted by New on June 22, 2010 at 7:57 PM I can guarantee that there is no way that the County will lower a property's value just because the bank asks them to. Most County Assessors (because they are elected officials) want to appear taxpayer-friendly. There is a voter-approved proposition (Prop 8) that allows the Assessor to lower a property value based on market conditions. So, most Assessors have been working hard to lower values in areas of the County that have been hardest hit. So, the properties you are looking at have been re-assessed to lower assessed value. Frankly, assessor value of property usually has nothing to do with market value of a property, unless the property was just purchased at an arms length transaction this fiscal year. Follow Ups: Re: Property Taxes During Foreclosure Geri 9:33 PM, 06/22/10 (1) Re: Property Taxes During Foreclosure New 10:36 PM, 06/22/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I can guarantee that there is no way that the County will lower a property's value just because the bank asks them to. : Most County Assessors (because they are elected officials) want to appear taxpayer-friendly. There is a voter-approved proposition (Prop 8) that allows the Assessor to lower a property value based on market conditions. So, most Assessors have been working hard to lower values in areas of the County that have been hardest hit. So, the properties you are looking at have been re-assessed to lower assessed value. : Frankly, assessor value of property usually has nothing to do with market value of a property, unless the property was just purchased at an arms length transaction this fiscal year. : [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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