Sonoma County residents who saw their home plunge in value now
may face what a top county official calls a “mixed blessing” — the
return of higher property values, which can lead to bigger tax bills.
About half of the
county’s homeowners might see their property taxes rise this fall by
more than the 2 percent annual limit set by Proposition 13, Sonoma
County Assessor Bill Rousseau warned Monday.
Those
owners previously saw their property tax bills drop when home values
fell sharply after the housing bubble burst in late 2007.
Now,
home prices are rising again, and the Assessor’s Office plans to post
new values for each property in the county in August. At that point, it
will report how much a homeowner’s property tax bill will change. But
Rousseau already is warning homeowners to brace for higher taxes when
the county sends out tax bills in October.
“We want to see people get prepared for that,” he said.
(Full story at The Press Democrat)