SAN DIEGO, Calif. /California Newswire/ — With only 20 days left before CA tax laws change, imposing limitations on property tax relief – property tax reduction firm Paramount Property Tax Appeal is ushering in the New Year with a free New Years evaluation for California families, affluent homeowners and all types of business property owners – to determine what steps to take to lower their property tax bill.
The firm is reportedly so confident of their 80% success rate minimizing property taxes for families and businesses – Paramount is taking the unprecedented step of inviting property owners to call or stop by for a free New Years consultation & evaluation concerning requirements for a residential or business property tax appeal or property tax reduction, home and business property appraisal; as well as organizing and completing tax compliance paperwork for business personal property.
President of Paramount, Mr. Wes Nichols, says: “It’s an all-hands on deck situation right now. It’s critical to ensure your children can inherit and preserve a low Prop 13 basis from you! We are strongly advising all California property owners that property tax relief will be limited after Feb. 16, by the Prop 19 changes to Proposition 58’s Parent-to-Child Exemption. There are only 20 days left to prepare, evaluate and potentially appeal property taxes – usually reducing property tax by 20% to 30%… Not following through on this may cost families and businesses thousands of dollars in unexpected, additional property taxes.”
Mr. Nichols explains: “California property owners are facing a property tax deadline we’ve never faced before; that concludes 3-weeks from now – imposed by new tax law Proposition 19. All residential and commercial property owners have to complete estate planning and tax reduction paperwork by Feb. 15, 2021. When Prop 19 kicks in Feb. 16, the doors for California property tax relief protected by Proposition 13 and Proposition 58 slam shut for properties that are not owner-occupied homes within 12-months. In other words, homes, apt. buildings and other commercial properties will all be assessed at current, full-market value when you transfer title to your children…”
The corporate president elaborates: “We do enjoy helping people, no matter what their net worth or property values are; which is why we’re offering a free consultation this year – and we can’t emphasize enough how important it is for families and business owners to get in right now – this week – to see us, so we can evaluate their estate planning and property tax situation, and complete all the paperwork to lock in their future tax base at a lower rate. With Proposition 19 becoming property tax law, Californians only have 20 days left to lower their property taxes and complete estate planning, in order to pass down low assessed values to their children.”
Paramount Property Tax Appeal is reportedly one of the few property tax firms in California that provides a large staff with well known, world-class tax attorneys and complex data-systems for proprietary tax reduction solutions and property tax appeal programs – guaranteeing parents the ability to pass down their low assessed value in the future to their children. Even if property is held in an LLC or a trust.
Mr. Nichols concludes: “It bears repeating – After Feb 16, 2021 you can no longer transfer your Proposition 13 basis to your children! This year, Californians face unprecedented tax challenges unlike any time in recent history… due partly to the Covid shutdowns and resulting economic crisis, severely impacting property values and estate planning. Families with estate planning needs have to realize they only have weeks left before their ability to take advantage of certain property tax breaks from CA Proposition 13 and Proposition 58 disappears – when Proposition 19 becomes active. This will dismantle certain tax breaks previously safeguarded by the Parent-to-Child Exemption, allowing homeowners to avoid property tax reassessment.”
To get a free New Years evaluation for estate planning, trusts, property tax appeals and tax reduction – property owners can call the Paramount headquarters at (858) 225-1200 with the option to discuss over the phone, or to come in and review their property tax and/or business personal property tax needs with a property tax specialist.
Paramount Property Tax Appeal
Call: President Wes Nichols at (888) 385-9203
Learn More: https://www.paramountpropertytaxappeal.com/
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