How will the Datamontic Value Estimator help me?
California Prop 8 allows for a reduction in property taxes when the market value of your home is less than the taxed value. To obtain this reduction, you need to complete an application called the ‘decline in value’ application. In order for you to complete the application, you need to show two comparable properties that sold for less than your home’s tax value.
Datamontic will analyze your home and generate the Datamontic Value Estimator report. This report will include two comparable properties that sold recently and a detailed comparison with your home. The report will also provide an estimate of your home’s tax value based on these recent sales (click here to see a sample report). Once you have the Datamontic Value Estimator report, you can use it to complete the ‘decline in value’ application.
What is a Decline in Value application?
You can use the 'decline in value' application to claim a reduction in property taxes should the market value of your home fall below the taxed value. The ‘decline in value’ application is a one-page application that can be completed online or by mail. All real properties including single family, condo’s, apartments, etc., are eligible to file. The deadline for filing in Los Angeles County is November 30, 2019.
Click here for more information about decline in value application.
How do I complete a Decline in Value application?
Once you have obtained the Datamontic Value Estimator report, completing the ‘decline in value’ application is simple. Follow the steps below –
Fill in the owner name, phone, property address, mailing address, and your email address.
Use the Datamontic Value Estimator to complete the following –
Opinion of value
Number of bedrooms
Number of bathrooms
Approximate square footage
Comparable sales information including address/assessor’s ID, sale date, sale price, and description
Sign and date the application
What geographical areas do you serve?
Our service is currently available to home owners in the Los Angeles County only. If you would like to use this service in your neighborhood, email us at firstname.lastname@example.org
How do you find comparable properties?
We use different data sources to identify recently sold properties. We look for properties that are similar in size, type, age, features, and location to your home. Once we have identified comparable properties, we narrow down the list to the two properties that provide you the best opportunity to claim a reduction in property taxes.
How much will I save in property taxes?
There is no guarantee that you will get a reduction in property taxes. While you can use the Datamontic Value Estimator report to complete a ‘decline in value’ application, it is possible that your taxed value is already lower than market value or that your appraisal district disagrees with the comparable properties and declines your application.
How much does the Datamontic Value Estimator cost?
The cost the Datamontic Value Estimator report is $7 for each home. If you are not satisfied with the report, you can email us within 15 days at email@example.com for a full refund.
How will I receive the Value Estimator report?
Your personalized Datamontic Value Estimator report will be emailed to you at the email address provided while placing the order. Reports are typically emailed within 24 hours of the order.