Proposition 8 and Proposition 13

California Property Tax Law as practiced in each county by the County Assessor's office is contained within the Property Taxes Law Guide.  The California State Board of Equalization oversees the Assessor who in turn sets values, both house and commercial property values.

In the county where the assessment is to be made, the California property tax Assessor has the responsibility of setting a base year value for every property. This occurs generally on the completion of new construction or change in ownership of a given property. Once the base year value assessment is made the California property taxes then fall under Proposition 13 and Proposition 8.

PROPOSITION 13

On June 6, 1978 Proposition 13 (Prop 13) was selected by the voters in the State of California to be the tool to lower and stabilize Assessment Values in every county.  Under Prop 13 the base year value is established upon a change in ownership or completion of new construction.  Thereafter assessed value increases are limited to 2% per year by the Assessor of each county .  The County Assessor may however choose not to increase the value or even lower the assessment value in certain cases.

This was an excellent idea as long as property values were appreciating. But what would happen if property values depreciated? For this reason, Proposition 8 came to be.

PROPOSITION 8

Proposition 8 provides that, as it pertains to California property taxes, the County Assessor may, in any tax year where the fair market value of an assessed property is lower than the value on the assessment roll, reduce the value.  The problem is that seldom does the County Assessor initiate the value reduction correctly.   When an attempt is made it is generally not sufficient to reflect the actual fair market value.  Because of this, the responsibility for a property tax reduction is on you, the property owner.

The second problem with Proposition 8 is that the Assessor "may" reduce the value of the assessment.  Many county assessors offices simply do not have the personnel to determine fair market value of the real property in the county timely. Many others fail to admit the value reductions have taken place and should be reflected in the California property tax assessment. In these cases the California property tax payer must act.

Depending on the time of the year different options may be taken relative to the property type. Informal appeals as well as formal appeals can be requested and filed, dialogue with the assessor's representatives relative to the California property tax assessment value can be made, and, generally as a last resort, an appearance before the California property tax Assessment Appeals Board may be required.

The experts at California Property Tax Associates-CAPTA have the experience to handle any property type in any California County. Over the many years of their existence they have saved thousands upon thousands of clients millions and millions of dollars.

If you're ready for your county property taxes to be reduced to their lowest possible value please call us at (888) 678-9TAX.  Or, if you prefer simply fill out the form below and we will contact you at your convenience.  But please do so now as deadlines are rapidly approaching and, once past all potential for a reduction is lost.