New Study Reveals 25% of San Diego Homeowners are Overpaying on Their Property Taxes

Over 200,000 homeowners are overpaying on their taxes, yet to date there have been only 15,000 property tax appeals filed with the County Assessor.

SAN DIEGO, Nov. 5 PRNewswire/ -- EasyTaxFix.com released a study today revealing that one in four homes in San Diego County was over-assessed as of January 1, 2008. The study further points out that the average potential savings by filing a property tax appeal exceeds one thousand dollars annually. This study is based primarily on a comparison of actual property assessments as compared to the average price per square foot of homes sold within 0.25 miles of each property between January 1, 2007 and March 31, 2008 -- the time-frame recommended by the County Assessor's office on which to base property appeals.

"The fact that so few homeowners have filed an appeal before the November 30th deadline is unbelievable!" said Adam Berkson, President of EasyTaxFix.com, a web-based service that helps San Diego homeowners file their property tax appeals. "We do not think homeowners understand the fact that property taxes, which are based on a home's market value, do not automatically adjust downward in a market decline."

The study points to several factors that may be limiting the number of appeals beyond simply public awareness. First, property taxes are buried in the mortgage payment because of the fact that they are often paid through impound accounts managed by their mortgage companies. Next, EasyTaxFix.com points to a study conducted by Zillow.com indicating a perception-reality gap on the part of homeowners: homeowners do not realize or admit that their home values have fallen as much as they have. Lastly, EasyTaxFix.com indicates the property tax appeal process itself is cumbersome and intimidating.

Berkson explained, "We launched EasyTaxFix a few months ago as an affordable way to assist San Diego homeowners with their property tax appeals. Of, course we would like homeowners to use our site but the reality is, it is just as important to get the word out that homeowners really are overpaying on their taxes! We view our marketing as a public awareness campaign. Whether you use our service or not, why pay the government more than you need to?"

About EasyTaxFix.com

EasyTaxFix.com is a web-based service where San Diego homeowners can enter their property addresses and automatically see their potential tax savings for free. Homeowners then have the option to pay $39.99 for a completed property tax reassessment application with supporting documentation. The company's website adheres to all County regulations and navigates through the requirements and fine print associated with the property tax reassessment process.