|Assesments to be impacted by real estate recovery
After two years of recovery in the local real estate market, Sonoma County residential property owners may begin to see an increase to prior property tax values in the coming years.
Since 2007, the Sonoma County Assessor’s office has been reviewing thousands of assessments. More than 55,000 property values, approximately half of the residential properties in Sonoma County, were temporarily reduced under these provisions of the law.
Sonoma County Clerk-Recorder-Assessor Bill Rousseau commented, “For the 2014 assessment year, the assessment roll will reflect some significant increases due to the residential real estate market recovery in most areas of the county. Although this is an indicator of a strengthening and healing local market, this is a mixed blessing for property owners who have had their property taxes held down for several years by a sagging real estate economy. We want to make sure no one is surprised and work with property owners who request an informal value review or to explain the process in general.”
At this time, the 2014-15 assessment roll is not completed or ready for publication. Homeowners can expect information to be available online in August when the 2014 value notices and the assessment roll are posted. Contact information for homeowners with questions or concerns will be provided with those online notices, and property owners may visit the Assessor’s website anytime for more information on the assessment process.
There is no charge to request an informal value review from the Assessor. The deadline for that type of review is June 30, 2014, and forms can be accessed online at www.sonoma- county.org/assessor. Taxpayers are encouraged to call the Assessor’s office at (707) 565-1888 for further information regarding their property assessment.