Property Assessment In Better Balance. In announcing the close of the 2007-08 assessment roll, County Assessor Larry Stone confirmed that Silicon Valley’s economy has moved past the extreme “rollercoaster” highs and lows of the late 90’s and the early 00’s and on to a more stable, balanced growth pattern. For the third consecutive year, assessed value roll growth has remained steady. The Assessor announced that the total, net assessed value of all real and business property in Santa Clara County grew by 8.25 percent, reflecting an increase of $21.6 billion. The total assessed value of all real and business personal property reached a record $283.51 billion.
Assessor Objects to fee to challenge assessed values. At the recommendation of County Supervisor Pete McHugh, the Board of Supervisors established a $30 fee to challenge assessed values, the first of its kind for the County. County Assessor Larry Stone strongly opposed the fee and stated to the Board that “charging a property owner a fee for what ultimately may turn out to be an over assessment is unfair.”
On Friday, the Santa Clara County Assessor’s Office mailed 466,614 assessment notification cards. The card provides the property owner the opportunity to review the taxable value before it is formally enrolled on July 1. Should the taxpayer disagree with the assessed value, there is sufficient time to contact the Assessor for further review before the July 1 deadline.
While not exactly Ed McMahon arriving at your door with a big sweepstakes win, County Assessor Larry Stone’s letter to over 14,000 property owners will come as welcome news to many.
Proposition 13: Love it or hate it, but please don't igonre it! More than any other law, it is critical that realtors and other professionals understand and convey to their clients. Proposition 13 and the additional ballot initiatives it has spawned.
