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Housing market plunge nets owners tax break

March 22, 2008 12:00:00 AM PDT
Thousands of southern California homeowners will be getting a break on their property taxes. Due to the housing market plunge, 41,000 homes in L.A. County have been automatically reassessed, with lower values.

They were all purchased between July 2004 and June 2007.

Those homeowners will save an average of $660 on their tax bills.


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