by Valerie Faltas
In early 2003 I applied with the Los Angeles County Assessor’s Office as one of 900 applicants for 25 positions to be a Real Estate Appraiser Trainee. As a trainee I went through an 18 month probation period and a 12 month training with them which included classroom education, numerous exams, field training in all parts of real estate appraisal, property tax law and the systems in place within the Assessor’s Office. Had I failed any one of my series of exams or gotten a bad review by my field trainer they would have booted me out.
I took an exam with the State Board of Equalization to be Certified as a Property Tax Appraiser at the end of the year long training program. Then I was promoted by the Los Angeles County Assessor from Trainee to Appraiser. Seperately, I sought to become a licensed Residential Appraiser through the Office of Real Estate Appraisers so if I wanted to I could do private appraisals, ones used by banks for loans. I personally acquired my first house at the age of 23, my second at the age of 24, my third at the age of 25. As I was learning appraisal and assessments I was also buying, selling and updating homes so I saw all aspects of real estate. In addition, I had been the administrator of a family estate while in college so I had already been a propety manager, and handled real estate within trusts and estates and my experience working for the Assessor and in real estate had shed light on what I had done years earlier with my family.
The position I had is considered to be prestigious because of the nature of the job. Determining assessments, taxpayers paid property taxes based on the amounts I determined every day. I affected over 6,000 properties in Los Angeles County while I worked for the Assessor’s Office. The prestige comes from the nature of the job and the knowledge acquired. There is absolutely a false sense of power that goes along with the position because if homeowners really understood the law and how it all works, suddenly the prestige would be gone because the bottom line is always the numbers.
My job adjusted with the real estate industry: different types of work during different types of markets. I had a great reputation within the Office of the Assessor, was known for being fast, proficient and thorough. I was chosen by higher level management several times to work on different projects and help with other departments within the Office. When I left the Assessor to go to law school (which I dropped out of), months even up to a year after I left, homeowners would ask for me since I would assist them more than others who worked there. Even the clerks in the office would come to me with problems since they knew I would assist them. I had a bright future with the Assessor and would have risen through the ranks had I chosen to stay there.
NATIONALLY: In almost every state in this country property taxes are based on market value. Market value is the key. The biggest problem is that every Assessor in every county in every state is a MASS appraisal organization. They have hundreds of thousands of assessments to complete year after year and usually are understaffed. They exist to serve, to do their jobs to follow the law and to be as fair as possible. So often values aren’t where they should be because of the simple fact that they don’t have the time or the man power to be more thorough.
CALIFORNIA: California Property Taxes are different than the rest of the country. As the real estate market was declining homeowners were calling and coming into the Office looking for help. I was assistinghomeowners get the temporary tax break called Prop 8 and I knew a much more bigger break they could get. I know a way for homeowners in California to get a PERMANENT break in their property taxes. The typical taxpayer in an urban area lost over a $250,000 in value which means $3,000 PER YEAR in property taxes! Totally legal, just out of the box – really just a different way of looking at the law and it wasn’t okay for me to share. Most who work for the Assessor aren’t aware of this loophole! Day after day, taxpayer after homeowner…I knew a much better way. Most homeowners wouldn’t qualify for the temporary break based on the perimeters of it. I felt compelled to make this loophole known so that I could help homeowners in a substantial way. So, I left and created the Property Tax Little Black Book.
If a taxpayer can get your loan modified to permanently reduce how much you owe the bank for your house why shouldn’t the same apply to your property taxes? The law is ALWAYS on the homeowner’s side…you just don’t realize it!
I processed single family home values at 3 or 4 an HOUR… some were higher than they should be because I didn’t have the time to make sure they were right and some were lower than they should be. Only if the taxpayer complained was the assessment investigated. Each taxpayer needs to learn some basic appraisal and assessment to ensure they are aren’t overpaying property taxes. Education is the critcal factor. All homeowners can understand and handle this process to feel in control of what they are being taxed on their home.
The Assessor is afraid the people because the homeowners are the ones who keep them in office. The Assessor’s Office doesn’t want to deal with a disgruntled taxpayer!
Bottom line: the Assessor is not out to get the homeowners. Education and eliminating fear in times like today. This is the AMAZING news about a low real estate market! Its time for homeowners to save and educate themselves. This low real estate market means: modified loans and lower property taxes! Yes, the real estate market is down and this is how it can help you! This is one of the numerous reasons this economy is good!
My vision, my goal is to empower the homeowner! No more fear. Fear comes from ignorance and my goal is to educate and ultimately dispel fear. In a time of turbulence and change, it is more true than ever that knowledge is power. – JFK Feel free to contact me! I look forward to hearing from you.
About the author: Valerie Faltas, Property Tax Expert has been involved in all facets of real estate for over ten years including assessments, appraisals, estates and trusts, investing and much more.
