North County Property Tax Refunds – Where Are They?

Escondido Property TaxProperty Tax Refunds on North County Real Estate.

Where is your North County property tax refund on your North County home. The price of your North County property has gone down every year for the last four or five years. You have filed a request with the County to refigure your assessed value on you North County home, but you keep paying the high property taxes here in San Diego. You are in the same boat as thousands of other North County home owners.

I am including an article from the North County Times to expose the problem.

“The San Diego County Treasurer-Tax Collector’s office continues to take in millions of dollars more in property taxes than is owed and then lags in returning the money to taxpayers, according to a 2009 audit. The examination of the treasurer’s property tax refund account concluded that nearly $8 million needed to be refunded or funneled to the county’s general fund if the person or entity who was owed the money could not be located. It’s been a problem that stretches back to 2003 and has dragged on, despite a series of examinations in the years since. The most recent independent audit, conducted over nine months by the firm of Kessler International, found a variety of problems in how the treasurer’s office manages what is known as the Property Tax Trust and Refund account. That report was issued in March but never shared with the public.” Of course, this is an election year and Dan is running again.

This problem will not be easily solved, but Dan McAllister vows changes are being implemented to correct years-old problem. If you would like to find out how to lower your property taxes, contact Gary Harmon, your North County Realtor. Gary Harmon will provide you with a property tax reassessment form along with instructions on how and when to file.

CA 2010 New Home Tax Credit

The State of California has passed a new home credit for a qualified new principal residence.  San Diego North County buyers must buy from May 1, 2010 through the end of the year. This would apply to almost all new San Diego North County homes for sale. Escondido homes or Encinitas homes constructed by the taxpayer would not qualify since they are not considered purchased.

The new Escondido home, Oceanside home, Encinitas home, or other North County home must be new, but can be attached or detached.  They can also be condos or manufactured homes.  New means it has never been occupied. North County sellers must certify that the San Diego home has never been occupied in order for a taxpayer to receive an allocation of the credit.

You are not eligible if you used the 2009 new home tax credit or if you are under 18.

New home tax credits are limited to the lesser of 5% of the purchase price or $10,000.

The State has set aside $100,000,000 for this new home program, but when the money runs out, so does the program. When buying  North County homes, buyers who qualify for the new home credit may reserve a tax credit pri0r to close of escrow.  To reserve a new North County home tax credit, the buyer must fill out and fax to the state a reservation request which certifies that they have entered into a qualified new home purchase under the credit’s guidelines.  A copy of your signed North County home must be included with the purchase contract.  This credit  is strictly, first come, first serve. If you want to get in on this great opportunity you had better get started.

You should always take your Realtor with you on you first visit to new model homes.   Contact Gary Harmon, your top North County Realtor today.  For other types of credits see California 2010 Tax Credit First Time Buyer.

San Diego North County Home Summary

Microsoft Word - HomeDex Cover Master.docHomeDex Report November 2009

Each month the San Diego North County Association of Realtors publishes data showing changes from month to month and year to year for North County Homes.  The following is a recap of that data. 

All information on North County homes is supplied by the North San Diego County Association of Realtors and is used by permission by your Escondido Realtor, Gary Harmon.

  • The median price for all North County home sales – attached and detached – decreased 1.35% in
    November 2009 from October 2009, to $370,000.
  • Detached North County home prices rose 1.45 percent, from October 2009 to November
    2009, from $430,000 to $436,250.
  • November 2009 median single-family detached homes in North San Diego County
    increased 21.86%, from $358,000 in November 2008.
  • Attached North County home prices increased during November 2009 by 5.54%,
    from $239,250 a month earlier to $252,500.
  • Attached Non-North County home prices increased 2.44% in November 2009; from
    $205,000 to $210,000.
  • San Diego North County attached homes increased 40.28% from $180,000 a year ago.
  • Median days-on-market for single-family detached North County homes remained at
    35 days in November 2009.
  • The number of North County single-family homes sold fell 18.13% last
    month, from 772 to 632.
  • There was a year-to-year increase of 9.15% for home sales in November 2009
    compared to November 2008.

To get the full HomeDex report or to see how it effects Escondido real estate, contact Gary Harmon, your Escondido Realtor.