If you purchased your home in the past 4 years it is very likely that you are eligible to apply for Decline in Market Value Property Tax Relief (Proposition 8).

The Ventura County Tax Assessor has given Ventura County home owners until December 31, 2008 to Claim a Change in Assessment.

Who is Qualified For The Property Tax Relief?

Home owners whose home’s current value, as of January 1st, is less than the assessed value stated on their 2008 property tax bill.

How Does The Property Tax Relief Work?

• The value of your property will be based on the most recent January 1st.
• The Ventura County Assessor will use their own certified appraiser to analyze the comparable homes sold in your neighborhood to help set the current market value of your home.
• You still have to pay your property taxes. If the Assessors office qualifies you for a property tax relief a notification will be me mailed to your home.

How Do I Apply For The Property Tax Relief?

You don’t have to use a third party service. There are many home owners all over Ventura County, including my parents, who have received very official-looking mail, offering a paid service to help reduce home owners’ property taxes.  I urge you to be careful of these types of services since they are charging you to complete paperwork that you can obtain directly from the Ventura County assessor’s website or contact the Assessor’s office (805) 645-1307.

If you wish to dispute what the assessor believes is your home assessed value, you need to fill out an application for changed assessment on the Ventura County’s Assessor’s website by November 30, 2008.