The other day I had a conversation with Sacramento County Assessor Ken Stieger.  I mentioned to Ken that as a REALTORŪ I frequently receive questions about property taxes.  I asked him if he would give me some answers to commonly asked questions about property taxes.

This is what Ken Stieger told me were ten of the most commonly asked questions of him and his office.

• When can property be reassessed (revalued for tax purposes)?  Real property (land and improvements) can only be reassessed if there has been a change in ownership, new construction, or a decline in value.
• Is there a "homeowner's exemption" and if so, what is it?  Yes, if you own and occupy your home you may qualify for a homeowner's exemption on your property.  The exemption is currently $7,000 from the assessed value of your home resulting in $70 savings per year.  Check your tax bill to see if you are already receiving one.
• Can Seniors transfer their basis from the sale of their residence to a new residence?  If one of the owners of your residence is age 55 or older and you purchase a residence of equal or lesser market value within the same county, you may transfer your old property tax base to your new property, if an application is filed with the County Assessor and certain conditions are met.
• Will remodeling my home cause it to be reassessed?  Unless you have renovated the building to the extent that it becomes substantially equivalent to a new building remodels or repairs and replacement of your existing items on your property will not cause reassessement.
• If I refinance my property will it be reassessed?  Refinancing will not cause a reassessment of the property, though you may be asked to provide supporting documentation.
• Does a transfer between spouses cause reassessment?   No, spousal transfers will not cause reassessment.
• Does transfering my interest to my children or grandchildren cause reassessment?  If an application is filed with the County Assessor and certain conditions are met then family transfers may be excluded from reassessment.
• What can I do if my property is destroyed by fire, flooding or other disasters?  Declines in value due to natural calamities such as fire, flood or earthquake or market conditions can reduce your property assessment temporarily until the condition is remedied.  You can make an application for a reduction with the County Assessor.
• What is a Supplemental Assessment?  Supplemental assessments occur whenever a change in ownership or new construction occurs, and are in addition to your annual bill sent out each October.  There bills are not normally paid through your impound account.
• What can I do if I feel my property is assessed too high?  If you feel the assessed value is too high you should first contact the Assessor's office to try to resolve the matter.  If it cannot be resolved, then you may file an appeal to the County Assessment Appeals Board which is under the County Board of Supervisors.  You must file your appeal within 60 days of the date the bill or notice was sent, or for the main roll bill, between July 1st and November 30th of each year.

For more information about Sacramento County property taxes and State Property Tax Laws please visit the Sacramento County Assessor's website at http://www.saccounty.net/assessor.