TAX NEWS - JUNE 2010

Los Angeles Tax: 400,000 LA County homeowners get tax reductions

03 June 2010 -- More than 400,000 Los Angeles County homeowners are getting property tax reductions averaging $1,500 to $1,800.

Assessor Robert Quon said Wednesday that those most likely to receive reductions purchased homes or condominiums after July 1, 2003, when the housing boom began.

Tax reductions are also being made for some homes purchased earlier than 2003, including in Compton, East Los Angeles, Van Nuys, Paramount and Pomona.

In the Antelope Valley, where there's been a severe drop in property values, some people who bought homes as far back as the 1980s could get tax reductions.

Tax reductions will be seen on property tax bills later this year.