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<p> Bill Gunderson knows what rich people own. What they buy and sell. And what they pay in property taxes. As one of San Diego’s top wealth managers, he’s seen it all.</p>
<p> And without a doubt, he says the easiest way for San Diego property owners to make money is to reassess the value of their homes to reduce property taxes.</p>
<p> “Many people in California are paying way too much in property taxes,” Gunderson said. “And it is easy to see why: Property values have crashed, in many cases by 50% and more. But many are still paying taxes on the former value of their homes.”</p>
<p> The owner of an Oceanside, condominium, for example, recently received a property tax bill based on an assessed value of $600,000. But the property has been listed for $275,000 for almost a year — and still no takers.</p>
<p> “That person is paying at least $3000 a year too much,” Gunderson says.</p>
<p> Many do not notice because their property taxes are paid automatically as part of their mortgage payment. “It is the most expensive and common mistake I see,” Gunderson said. “And the most important to fix.”</p>
<p> Examples are easy to find. And easy to understand. But Gunderson says the real challenge is filing the application to have your assessment reduced. It is not that hard.</p>
<p> The filing deadline to appeal this year’s assessment is November 30.</p>
<p> But that is for taxes due next year. So if you have a bill based on an unrealistic assessment, you still have to pay that. Fair or not.</p>
<p> “That is ridiculous,” Gunderson said. “These property tax bills should go down automatically. But they don’t. So you have to pay attention and present evidence from comparable values or recent appraisals that show you property is over-valued.”</p>
<p> “It’s not that hard to do. In San Diego, for example, you just download a form at , then send it in. Even so, not everyone wants to do that. In that case, they can visit <em><a href="http://PWstreet.com">PWstreet.com</a></em> to get a list of accountants and others who can help.”</p>
<p> The state of California keeps an information page to assist people with their reassessments. You can find that at<em> <a href="http://www.boe.ca.gov/info/AssessmentVideo/AppealAssessmentIndex.html">…;
<p> Even some of the big shot accountants for very wealthy people do not pay enough attention to this, Gunderson said. And it is not just for homes, it is also for commercial properties, rentals, and other tax-paying entities.</p>
<p> Gunderson is a frequent guest on national news and financial shows, including America Live with Megyn Kelly, America’s Nighty Scoreboard with David Asman, Bloomberg News, Barron’s, and dozens of others.</p>
<p> From his Oceanside office, he broadcasts a stock market and financial news report every morning from 7 a.m. to 8 a.m. on KCEO AM 1000.</p>