Recession Reduces Property Taxes
California homeowners will see a decline in their property taxes this year according to the Board of Equalization (BOE). This is the first time such a broad scale reduction in property tax base year values has occurred. The decline is triggered by BOE’s preliminary estimate of a negative inflation factor, or deflation, of 0.237 percent.
The decline in taxes owed will be about $2.60 per $100,000 in assessed value, according to the announcement by Chairwoman Betty Yee. Since the passage of Proposition 13 the inflation factor has never been negative.
The adjustments will be reflected on October 2010 tax bills that are due on December 10, 2010.
More information and additional guides for taxpayers can be found at the California Online Tax Service Center
http://dist06.casen.govoffice.com/intermediate.asp?link=http://www.taxes.ca.gov/
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