Proposition 8 (Informal Value Review)
The Assessor is required to value property annually at the lesser of its factored base year value or market value. Reductions are either initiated by this office or can be based on a request from the taxpayer. After a review, a property will receive a temporary reduction in value if its current market value is found to be below its factored base year value. This reduced value is subject to change on a yearly basis, either upward or downward, until the current market value exceeds the factored base year value (example). In the event you feel your value to be excessive, we urge you to contact our office as soon as possible for an informal review at (530) 842-8036 or toll free at (888) 854-2000 ext 8036. You may also e-mail us at firstname.lastname@example.org (link sends e-mail)
California law provides property tax relief for taxpayers whose property was damaged or destroyed. This property tax relief is available to owners of real property, business equipment and fixtures, and to owners of aircraft, boats or certain mobile homes. This program requires reassessment of the property to reflect its damaged condition, and the subsequent reduction or partial refund of the current year's taxes. After the property is fully repaired, owners will retain their previous base year value if the property is rebuilt in a like or similar manner. Property suffering a gradual deterioration over a long period of time does not qualify.
The program allows real property owners who incur damages of at least ten thousand ($10,000) from a misfortune or calamity to apply for a reassessment of their property.
To apply for relief, applicants must:
- File a written application no later than twelve months after the misfortune or calamity. Forms are available at the County Assessor's office
- Sustain real property damages from a misfortune or calamity on or after January 1, of at least ten thousand ($10,000).