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.