What is The Role of a CA Property Tax Consultant?

California Property Tax Consultant

The Role of a California Property Tax Consultant

What Property Tax Consultants Provide

This article provides an overview on property tax consulting and the benefits that come with enlisting the help of a property tax consultant with expertise in California property tax relief, among other key issues.

To begin with, County Property Tax Assessors – as every homeowner or relevant property owner, new beneficiary and estate heir in California knows – are solely responsible for implementing property tax assessments in their county. The County Assessor is also who one has to deal with when negotiating or submitting a property tax appeal, or filing various related paperwork; or to confirm deadline dates for filings.

However, we find that most homeowners and property owning landlords wind up enlisting the help of a tax appeal firm, or a professional property tax consultant to mitigate what they believe are property tax overcharges, to minimize their long-term property tax burden on a residence or an inherited home.

As many Californians know, property tax consultants frequently handle Tax Assessor negotiations or litigation issues for homeowners and business property owners; and often refer homeowners and beneficiaries to a trust lender, to take advantage of an irrevocable trust loan, while keeping a parents low property tax base.

And as many residents are aware, a loan to an irrevocable trust also works jointly with a parent-to-child exclusion from Proposition 19 (i.e., formerly Proposition 58) and as we mentioned a moment ago keeping a low property tax base while retaining an inherited home from a parent… Also being able to buyout inherited property shares from a co-beneficiary intent on selling their inherited property – for far more cash than an outside buyer would offer.  So in a sense, property tax consultants are aiding both estate heirs and trust beneficiaries looking to buyout siblings’ inherited property, as well as the siblings, or co-beneficiaries, interested in selling out. 

As most Californians that own property know, property tax relief  under Proposition 19 mainly revolves around  the property tax transfer measure, more specifically the parent-child transfer and  protected right to transfer parents property taxes when inheriting property and inheriting property taxes, generally with the ability to keep parents property taxes basically for as long as one resides in a primary residence – initiated by the parent-to-child exclusion.

CA Property Tax Consultants: Popular Categories

There are different types of property tax consulting services. Some consultants are experienced appraisers, with expertise in both residential and non-residential corporate real property evaluation. Some companies lack the expertise to some up with their own property tax valuation assessments on their own, and so hire property tax valuation consultants to produce customized property tax assessments for them.

On the other hand, there are “strategy consultants” who can negotiate property tax appeals, help with tax reduction planning, and handle payments for property owners. There are also property tax consultants that concentrate on helping property owners with compliance issues, assembling data and preparing documents to file with the County Assessor.

Michael Wyatt Consulting: General Practice CA Property Tax Consultants

Many property tax consultants offer a combination of services. This is generally the best type of property tax consultant to work with, as they are a lot less limited, in terms of what they can offer you and your family. It’s often helpful to look closely at an actual property tax consultant in California to get a real-life sense of what a professional service like this can actually offer.

For example, let’s take a look at the Michael Wyatt Consulting firm in Corona, California. Since 1978, this boutique firm has specialized in commercial and real estate appraisal, as well as property taxes and property tax relief, custom property research, real estate finance, real estate law, and real estate market analysis, site planning, and entitlements.

Setting them aside from many property tax consultants in California, this particular firm, and most generalist property tax consulting firms like them, will review your real property values every year, getting a fresh look at the status of whatever specific issues are in focus or at stake. If there are proposed property transactions in the works, a reliable property tax consultant will look at that transaction from every angle, to avoid property tax assessment.

Moreover, an on-staff general property tax consultant will always take time to respond to a client’s various needs, such as researching an issue that requires deeper investigation to ensure that all “t’s” are crossed and all “i’s” are dotted; and will always look carefully at any real estate deeds or other related items to make sure all data and numbers are completely accurate before committing final tallies and results to writing, and/or filing with the Tax Assessor.

Generalist tax consultants also tend to stand in as a “middle-man” between you, the property owner, and the Tax Assessor, coordinating your accepted fee payment – or your property tax appeal – and will complete all communications and filings with the County Tax Assessor’s office… and/or any other required government entity or agency.

Like all established, seasoned property tax consultants, the Michael Wyatt Consulting firm provides property owning clients with the knowledge they’ll need to make informed, correct real estate and/or property tax decisions – in order to meet all financial and residency challenges head on; in a timely and cost-effective manner.

Communicating With County Tax Assessors Throughout California

Additional benefits homeowners receive from working with property tax consultants include the ability to make good use of an experienced consultant’s in-depth knowledge of valuation principles, negotiating dispassionately and successfully with Tax Assessors concerning property tax breaks such as the Proposition 19 (formerly Prop 58) parent-child exclusion or assess and apply Proposition 19 tax relief measures that come with being over age 55, being severely disabled, or from owning a primary residence that was destroyed by a natural disaster like a flood or an earthquake, or a forest-fire.

Both homeowners and companies look to property tax consultants to help them put together a customized property tax relief strategy, based on the location of their home or properties’ and to present that plan effectively to the local County Tax Assessor.

A competent property tax consultant should be able to provide expertise on a transfer of a primary residence’s property tax base value to a replacement residence of any value, or to expand tax benefits for the transfer of a family farm — anywhere in California, which calls for new benefits and is highly complex, requiring rather specific expertise.

Awareness of Big-Picture Views and Legislative Issues

It is part of a property tax consultant’s job to lower the value of a property for a homeowner or a business, and to communicate this properly and effectively to a Tax Assessor, and to research challenging issues if necessary, and comprehend different industry categories whenever required.

Not only must a property tax consultant be knowledgeable about property taxes and property tax relief – the property tax consultant must also maintain a big-picture view of state or county legislation that may be looming in the future, and that may affect real estate in your particular county or region – or even possibly in the state of California, if statewide issues happen to be at stake.

Property tax consultants are occasionally also estate attorneys, and typically are compliant with Uniform Standards of Professional Appraisal Practice (USPAP) standards; and maintain a good reputation you can check on in the property tax industry associations and non-profit organizations.

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