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What is Proposition 8?
In 1978 California voters passed Proposition 8, a constitutional amendment to Proposition 13, which suffers from property allows a temporary reduction in the estimate of "impairment." An impairment exists if the current market value of a property falls below the current estimate. An impairment is to lower property taxes often saves the owner tried hundreds, if notThousands of dollars a year. the recent housing market conditions, virtually all cases, the annual property purchased in California in the last Proposition 8 you can use and save money by reducing property taxes.
In this sense, if you bought a house in California, in 2003-2007, the property tax burden is probably too high! Many owners do not know that under Proposition 8, are entitled to submit aAppeal to their new home, more accurately reflect the property values lower than today. As a landlord, the property tax liability on the estimated value of home-based, reducing the estimated value will result in a reduction in property tax!
Time is running out for California homeowners to reassess their real estate tax year 2008-2009 files. There are 58 counties in California and each province has its own timelines, rules and regulations. property owners concerned shouldcan help you contact a competent person search values comparable to prepare the complaint, and, most likely, so the property taxes. Why pay more taxes than necessary? Not to mention it's FREE!
Related : Proposition 8 jessica seinfeld
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