Contra Costa County Residents Confused Over Prop 8
Gus Kramer, Contra Costa County Tax Assessor, was on the news yesterday explaining Prop 8. Not 2008's Prop 8 which dealt with marriage, but 1978's Prop 8 which has to do with California property taxes.
The Contra Costa County Tax Assessor's Office is being flooded with requests to lower property taxes. Many homeowners don't realize that they are paying property taxes on last year's assessed value, not this year's. A $100K decline in home value this year won't be reflected on property taxes until next year.
Kramer notes that property taxes were lowered on approximately 80K Contra Costa County homes this year.