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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 18613
Experience:  B.A.; M.B.A.; J.D.
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I am 90 year old widow. I purchased a house in 2008 in Los

Customer Question

Hello, I am 90 year old widow. I purchased a house in 2008 in Los Angeles county for $540,000. Because of prop 13 and the downturn in values my property taxes were reasonable based on the market value. In 2014, the house was assessed at $315,000 which was below market value. In 2015 the house was assessed at $530,000. How can that be possible with Prop 13 when there should be a yearly cap increase in value of only 2%, or am I incorrect? I am also disabled so I am going to apply for the postponement program. Thank you.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 1 year ago.

You are correct in your understanding of Prop 13. I am not sure how the property value could rise to $530,000.00 from $315,000.00. Before you apply for the postponement program, you need to file an appeal of the property assessment within the deadline given for appeals. Otherwise, you would waive your rights to appeal.

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