With the drop in property values over the last couple of years, chances are pretty good that you might be able to save money on your Central Coast property tax bill.  So what can you do about it?

The San Luis Obispo County Tax Assessor’s Office is currently doing a review of properties under 10 acres puchased after January 1, 2003 so if you fall into that category, you don’t need to do anything right now.  However, if you do not fit into category, here is what you need to do to get your property reassessed.

First, get a copy of your property card from the SLO County Assessors Office.  Review the card to make sure the current information is correct for the size of your home, number of rooms, etc.  If this information is incorrect, contact the office.   Sometimes they will change it without a formal appeal. 

Second, if the value seems high, you will need to file a formal appeal whcih can be found at http://www.slocounty.ca.gov/AssetFactory.aspx?did=13066.  You will  need documentation to support your appeal such as a formal appraisal or comps (comparisons) of similar properties that have recently sold, etc.   I can help you with this part if your property is in Morro Bay, Cayucos, Los Osos, Atascadero, or any of the other San Luis Obispo County towns.   You can also look through the public records for other home that have similar features to yours but have lower assessments. 

This may save you thousands of dollars every year.  And the good news is that more than 33% of the property tax appeals succeed!  Make sure to do your due diligence to justify your request before you send your form in.  The more upfront work you do, the better it is for you in the long run.  I can also help you with finding an appraiser should you decide to go that way.