PRESIDENT'S MESSAGE

Happy New Year! Can you believe it? It’s not only 2009, but we’re looking at the worst economy of our lifetimes! That’s even harder to believe than the date!

Taxes? I’m lucky if I have enough money to make a house payment, let alone pay taxes. As a State employee, we just got word today that the furlough is official, save a few law suits. That means a 10% cut in pay. Oh well, it’s just money.

Speaking of taxes, for those of you who are in fairly new homes and are subject to declining values, as are all of us, be sure to check with your respective county assessor about a form for “Decline in Value” review (Proposition 8). In Placer County, this form is due (must be postmarked) on December 31 of the next fiscal year [from which comparable sales are taken]. So, in the case of Placer County, the Assessor asks for a list of comparable sales during the period of October 1 and March 31 of the current or previous (depending upon date) fiscal year, so as to determine a property value as of January 1 of whatever fiscal year you are sampling. In my case, I was able so send the Assessor comparable sales that reflected about $60,000 less value than their already-decreased valuation. Hopefully, their review will concur with my submission and a revised tax bill can be produced for the second payment of this fiscal year. I’m not sure I made that clear. Does everybody understand that??

As for the League, we’re “huntin’ for members.” As you know, membership dues and charitable gifts are the only two sources of the League’s income. We’re thinking of starting a Business Council for like-minded business members who want to network and support tax-cutting measures. Perhaps, we can have quarterly “mixers.” If you’re interested in joining a Business Council, please contact Bob Blymyer in our office.

Hope to see some of you at our next Board meeting.

Ken Payne