Keep your property tax bill in line

Acknowledging the precipitous decline in real estate values over the past 18 months, the county assessor has tried to give homeowners a much-needed break on their property taxes by adjusting payments downward.

But some parcels, even after being appealed by their owners, remain inaccurately assessed. The disparity between market value and assessed value can be a hardship on the homeowner, who becomes faced with having to pay an annual tax bill that's bigger than it should be.

When new tax bills arrive later this year, homeowners need to examine them carefully. If you don't know the law governing property assessments, the taxman could be taking you for a ride. Property owners can visit www.lacountypropertytax.com for answers about the taxing process.

Some senior citizens living in the Las Virgenes Unified School District, which includes Calabasas, Agoura Hills and Westlake Village, aren't aware, for example, that their parcels are exempt from the Measure E school bond tax.

The $98 annual tax was enacted in 2004 and renewed for eight more years in 2007.

With bond measures and other special add-ons, your property tax bill can easily surpass the 2 percent annual increase allowed under Proposition 13.

Although your tax bill is more likely to go down rather than up in the current economic climate, your overall payment obligations still remain high. It's one reason why voters overwhelmingly turned down the Prop. 1A tax increase in the May 19 statewide election.

They've had enough of the T-word and need their own measure of relief.