Hello
I live in California and I received a letter from the Assessor's office offering me a property tax reassessment because of the decline in the market value of my property. The letter says I can save about $2,000 annually in property taxes after the reassesment. The fee for this is $179.
My question is, does anybody know if the assessor can decide that my property actually increased in value and raise the property tax? I do not want to risk having to pay a higher tax.
Please advise soon. If I don't send the application by the 6th of April I have to pay a late fee of $30
Thanks for any advice