Homeowner Taxes Increase for Coto de Caza Homes
Many Coto de Caza homeowners were surprised by the increase in their property tax assessment they received last week. The Orange County Assessors Office sends out the notice annually to advise real property owners what the taxable value of their home is. This year the average Orange County home value has increased over 20% so plan on an increase in the bill. Thanks to Proposition 13, the increases are limited to a maximum of 2%. If your home was previously assessed a higher amount, and the amount in subsequent years was lowered, the assessor is not limited by the 2% restriction in order to get the value back to its highest assessed value. For more information on the subject, please read our blog about the ins and outs of Proposition 13.