Question:
“Hi Gary, I just got a notice from the county tax assessor’s office saying they were lowering my assessment. I attached a copy for you. Is it real? And if so, will this affect me if I need to get an appraisal or will it affect the value of my home?”
Answer:
That indeed is a real notice from the tax assessor.
The impact on you is lower property taxes until the assessor decides to raise it. Under Proposition 13, they can raise it back to what it would have been if they hadn’t lowered it.
As far as value, it’s more reflective after the fact of the market trend. But appraisers, agents, and homebuyers do not look at that to determine value, so it doesn’t impact your value.
