Property Tax Cuts In Ventura County?

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A hint of good news for some Ventura County homeowners in USA Today’s front-page story today on rising property taxes. The story notes that around the country some property taxes are rising even though underlying values are falling. But in Ventura County ... ‘Ventura County, Calif., is looking at 20,000 home sales since the end of 2005 to see whether any owners deserve a tax cut. The median home price in Ventura County is $567,000, down 5% from its peak in March 2006, according to DataQuick, which tracks prices.’ Story continues, ‘’To get a tax cut, you have to buy a home at the peak and have it lose value quickly,’ says Ventura County Assessor Dan Goodwin. In other words, if you bought before 2005, don’t count on a tax cut. ‘You can’t enjoy double-digit increases in your home value and then expect a tax cut when the market dips,’ Goodwin says. Thoughts? Comments? Use the comment button. Email story tips to: lalandblog@yahoo.com.