[Noah930]

November 30th is the deadline here in Los Angeles to place a request to have your home value reassessed for tax purposes. Is there a limit to the number of times or frequency with which this can be done? In a declining market, why wouldn't an owner do this annually?

Our house has dropped maybe around 5% in value since we purchased it a couple years ago. The savings on tax might not be huge, but it would be worth a couple hundred dollars, at least.

Is there a downside I don't appreciate? Would it make it any more difficult to refinance a mortgage? Regardless of what the county says our house is worth, wouldn't the mortgage lender do their own appraisal in that situation?