If you are filing Decline In Value Reviews with the Los Angeles County Assessor's Office, then this is information that you will want to know !
Effective January 1, 2010, there are two significant changes in the filing process for decline-in-value reviews.
- The new filing period will be from June 1 through November 30, 2010.
- The property owner or authorized agent will be able to submit a request for a decline-in-value review online.
For 2010, the Assessor's Office will again proactively review the value of hundreds of thousands of single-family residences and condominiums. This review will include those homes purchased between July 1, 2003, and June 30, 2009. In some especially hard-hit areas, homes purchased prior to July 1, 2003, will be reviewed. Beginning March 1, 2010, property owners will be able to check the Assessor's website to see if their property is included in the review. By June 30, 2010, the review will be completed and the results will be posted on the website. In addition, all those reviewed will receive the results by mail.
In prior years, the filing period for filing decline-in-value reviews was January 1 through December 31. But since we are confident that our proactive review will result in a fair value for the 2010 property taxes, we want property owners to wait for the results before deciding to file an application for another review. Therefore, the filing period will begin on June 1. The last day to file for a formal assessment appeal with the Assessment Appeals Board is November 30. For consistency, the filing deadline for a decline-in-value review with the Assessor will also be November 30.
The 2010 decline-in-value application form will be available on the website and at all Assessor's Office public counters on June 1, 2010. Applications received prior to June 1 or after November 30 will not be processed.
The second major change is that requests for a decline-in-value review may be done online. Online submissions for a decline-in-value review will begin on June 1, 2010. A property owner or authorized agent will need the parcel's personal identification number (PIN) as shown on the original annual tax bill to submit an online application. More information for online filing will be available on June 1.
Click on this link to see if your property will be under review!