The Los Angeles Daily News reports Property taxes in county falling.Some 405,000 Los Angeles County homeowners will have up to 1,800 reasons to smile this year following the latest reassessment of property values. The average annual tax bill for affected homeowners will fall between $1,500 and $1,800, LA County Assessor Robert Quon said Wednesday after reviewing 405,000 homes. Similar reviews done last year and in 2008 resulted in lower property taxes for more than 330,000 …

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Property Taxes Falling in Los Angeles County; Tax Revenues Will Plunge