It's a good time to check the mailbox if you live in Sacramento County.
Almost four out of 10 homeowners will receive word that their property taxes are less than last year.
Of course, that means more than 60 percent of homeowners saw their property taxes rise despite a near-certain decline in their property values.
The County Assessor's Office and Assessment Appeals Boards have been swamped the past several days with calls from homeowners wondering how it is the assessed value of their property went up while the economy tanked.
"The phone has rung non-stop pretty much since those tax bills went out," said Sandy Burnett, assistant Sacramento County clerk.
For the first time since 1978, when voters approved Propositions 13 and 8, the total assessed value of property in Sacramento County – and in most California counties – dropped from the year prior.
Proposition 13 rolled property assessments back to 1975 levels and capped the annual increase at 2 percent – until a property is sold or the living area enlarged, in which case the value is reset.
Proposition 8 – a companion to Proposition 13 – requires counties to reassess properties when market value falls below the assessed value.
Until recently, the 2 percent annual increase has not kept pace with the housing market. As a result, most homeowners pay taxes on assessed values well below the amount the house could garner if sold.
The housing crash changed that for many.
The assessor temporarily lowered the assessed value on more than 170,000 out of 450,000 Sacramento County properties this year because their market values fell so far. That news broke in early July.
But it wasn't until the past few weeks, when property tax bills came out, that many found out whether their taxes had dropped.
The Sacramento County Assessor's Office fielded almost 4,000 calls from homeowners the week after the bills came out, said assistant assessor Kathleen Kelleher.
The Assessment Appeals Board is also fielding calls and could face another big year for appeals.
In 2006, the county received about 1,200 property tax appeals. That number climbed to 5,000 in 2007 and 12,000 last year. Property owners have filed about 1,500 so far this year and still have until Nov. 30.
"They're really just getting a good start on the 2008 appeals," Burnett said. "We're not doing anything for this year. We're drowning in last year."
Yolo County has gotten more than 200 requests so far from property owners trying to get their assessments lowered, Assessor Joel Butler said. That's on pace to beat last year's more than 1,100 appeals.
Gary Varnado has asked for a new assessment on his Davis home.
He bought it in 2004 for $635,000, he said, and the assessed value has continued to rise and hit $698,000 this year.
There are no real comparables, so it's hard to fight the assessment, Varnado said. Still, he's going to try.
"I'm sure I'm not the only one," Varnado said.
Residents who think their property tax bills are based on overly high assessed values should contact their county assessor's office to find out about requesting an informal review and filing an appeal.
Call The Bee's Robert Lewis, (916) 321-1061.
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