I recently posted a suggestion of checking with your county property tax assessor to see what they are doing or planning on doing about the low drop in property value vs the high property tax bill the homeowners of San Joaquin County are getting. To see if they are going to reduce the property taxes to match the decline in property value. I am happy to report that San Joaquin County is doing something to help out the homeowners of San Joaquin County -- this especially will help out the homeowners of Stockton, CA. Stockton has one of the highest decline in property value during this foreclosure crisis. Ground Zero.... the Foreclosure Capital of America! Stockton, CA

I first emailed the San Joaquin County Assessor and asked if they are re-assessing properties to bring down their tax obligation and /or if people want to request it how would they go about making that request. They said all you have to do is put it in writing that you want your property re-assessed and your request will be added to the properties that will be re-evaluated or assessed (to the pile!). They also said that they are doing a re-assessment as they get a new sold property. Asking for yourself will probably work faster for your property to be re-assessed. Get the savings now before the market make that turn back upward. Housing market is down .... Lets see about lowering your property taxes!

I recently sent a follow-up letter to see how all that re-assessing is going and this is the reply that I received:

This office is very proactive and we are aware of the decline of property values. Last year we reduced values on over 20,000 properties and we expect a reduction on at least 40,000 this year. Those property owners will receive a notice no later than the first part of July telling them of their adjusted value. Anyone disagreeing with the value or anyone who did not receive a notice and feels their value should have been reduced should then contact our office. Debbie Wilson Chief of Standards San Joaquin County Assessor

Try this in your county to help advise the homeowners how they may be able to help them out by getting their property taxes reduced as soon as possible and before it is too late and the prices are back up.