"P.Schuman" <pschuman_no_spam_me[at]interserv.com> wrote in message
news:GukFj.67535$Pv2.23249[at]newssvr23.news.prodigy.net...
- quote -


We're in the process of doing this now. Not for our
residence, but a new office building we just bought.

County had it assesed for $330K ... We purchased
for $225K after it sat on the market for over 2 years.

ORC (Ohio Revised Code) *mandates* that if the sale
was at "arms-length", then the County *must* use the
sale price.

Why we've gotta go through the shenanigans with the
County's "Board of Revisions" when ORC explicitely states
that they've gotta use the sale price -- I have no idea.

Anyway, hearing with the Board of Revisions next month.
Will let ya know how it turns out.

I did it successfully several times in the early 1990s
downturn. My current area hasnt gone below
assessed price yet.

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On 2008-03-23 07:35:07 -0700, Thumper <jaylsmith[at]comcast.net> said:

- quote -

Even in the same city, or in a limited region within a city, values can
go down (and also up) to different degrees. In the neighborhoodd where
I live, average sales prices increased about 4% last year. But ten
blocks or so down the road, where a lot of houses overlook the water,
average prices increased about 15%.

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On Sun, 23 Mar 2008 04:50:58 -0500, "P.Schuman"
<pschuman_no_spam_me[at]interserv.com> wrote:

- quote -

If they were lowered across the board, as their real worth has been,
the tax rate would simply increase to make up the shortfall to the
city or town.
Thumper

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On Sun, 23 Mar 2008 04:50:58 -0500, "P.Schuman"
<pschuman_no_spam_me[at]interserv.com> wrote:

- quote -

I did that during the downturn in the 1990's, and saved about $1,000 per
year in taxes.

I had had a formal appraisal done in April of that year (trying to
refinance my mortgage) and, since the assessment is based on April values,
the appraisal was timely. I also looked at the comps to determine their
assessment vs fair market value; as well as doing the same thing for recent
sales.

Armed with this information, I was able to lower my assessment enough to
result in the above tax savings. (The appraisal cost was about $350, at
that time, if I recall correctly).
--ron

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In article <GukFj.67535$Pv2.23249[at]newssvr23.news.prodigy.net> ,
"P.Schuman" <pschuman_no_spam_me[at]interserv.com> wrote:

- quote -

Last time there was a housing decline in California the County Assessor
(elected) went out and gave seminars on how to get your assessment
lowered. This being California with Prop 13 on;y recent purchases were
impacted. It remains to be seen if the current assessor will do the
same thing.

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with the housing downturn - I wonder if anyone has gone to their local
county
and had their taxes lowered based upon a lower appraised value ?

--
-- "If everything seems to be going well,
you have obviously overlooked something." - Steven Wright

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