It's that time of year... a friendly letter from Los Angeles County Treasurer and Tax Collector Mark Saladino that it's time for the first installment of your property tax bill.
For those of us who bought our house in the past few years, that's a pretty hefty bill. It doesn't help things that thanks to the infamous Prop. 13, I pay more tax on my tiny house than I know plenty of people pay on beautiful, large homes three times the size of mine in more ritzy neighborhoods. Bastards.
That's why I'm starting to wonder whether it's time yet to evoke the "decline in value" statute in the assessment process:
"If you have evidence that the market value of your property on January 1, 2007 is less than the assessed value shown on this tax bill, you may request a review for the 2007-2008 fiscal year. The filing period is January 1 through December 31, 2007."
Well, because it falls on Jan. 1, probably not. The housing market didn't really collapse until this summer. And besides, with so few homes selling right now, I'm not even sure how an appraiser would go about determining house value.
Now, next year, the county should probably brace for a whole lotta "decline in value" submissions. Because if the market continues to decline, I'm sure as hell not going to continue to reward the county just because I had the unfortunate luck of finally having enough money to buy a house in 2004.
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