Town Square

Post a New Topic

Getting Palo Alto home value reassessed for tax

Original post made by Ada on Sep 14, 2009

We bought our PA house less than 5 years ago and applied first for informal Prop 8 value review which was denied by County Assessor.
We are now considering filing the formal Application for Changed Assessment based on declined value (deadline is Sep 15).
Is it it even worth trying?
The costs basis of the house for property tax has risen by $115K, but we disagree that the market value of the house rose that much. Our next door neighbors have been trying to sell their house for the price similar to what we paid for ours 5 years ago, but couldn't, the house is still on teh market for more than 2 months.
I wonder if anyone has been successful in having value of the house reassessed in Palo Alto and can share the tips.

Comments (4)

Posted by palo alto mom, a resident of Embarcadero Oaks/Leland
on Sep 14, 2009 at 6:09 pm

Gather 3 comparable sales between Oct 1 and March 31, 2009 (90 days before and after Jan 1st), do a analysis of the price per square foot and compare them to your assessed value on January 1st. If the value of the comps is lower then your assessed value, you might have a case. You will need to either mail it or bring it to the county by tomorrow, if the comps come out lower, its probably worth the $30 fee to apply.


Posted by Jenny, a resident of Charleston Gardens
on Sep 14, 2009 at 9:25 pm

Ada resident of Midtown: I hate to dispel a myth but your home has NOT decreased in value over the last five years. If you request a reassessment from the assessor's office they may, in fact, increase your assessed value.

I live in Charleston Gardens where four small Eichlers have been sold this Summer, all for around $1 Million which is an increase over last year.

Good luck, but don't work too hard on this, your assessed value may have increased not decreased.


Posted by Ada, a resident of Midtown
on Sep 15, 2009 at 9:01 am

Palo Alto Mom, I have done exactly that for informal Prop 8 value review - showed 3 comp sales all in our neighbourhood which sold in Jan-Feb for $300K less than what we bought our house 5 years ago, but were still denied.
Jenny, houses around a million could still hold value. Mine is in a different price bracket.


Posted by Lisa, a resident of Community Center
on Sep 15, 2009 at 9:03 am

Jenny, your statement "if you request a reassessment from the assessor's office they may, in fact, increase your assessed value" is wrong.


If you were a member and logged in you could track comments from this story.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Touring the Southern California “Ivies:” Pomona and Cal Tech
By John Raftrey and Lori McCormick | 5 comments | 2,679 views

Chai Brisket
By Laura Stec | 4 comments | 1,899 views

Sometimes "I'm Sorry" Doesn't Cut It
By Cheryl Bac | 4 comments | 1,059 views

Couples: Parallel Play or Interactive Play?
By Chandrama Anderson | 0 comments | 1,044 views

SJSU Center for Steinbeck Studies to Honor Author Khaled Hosseini on Weds Sept 10
By Nick Taylor | 0 comments | 658 views