My Property Value has Declined
Requests for a Prop 8 Review and/or an Assessment Appeal may only be filed during their respective filing periods.
For more information on decline-in-market-value and informal Assessor reviews read below or see our Decline In Market Value (Prop 8) Process Overview and Prop 8 Decline In Value Frequently Asked Questions.
*If November 30 falls on a Saturday or Sunday, mail postmarked on the next business day shall be deemed on time.
Prop 13 and Prop 8: How Property Values Are Assessed
Proposition 8, passed in November 1978, amended Proposition 13 to recognize declines in market value for property tax purposes. Once a decline in value is recognized, the Assessor is required to annually enroll the lower of a property's market value or its Proposition 13 factored value. (Ref. RTC 51)
Decline in market value, Prop 8 assessments, are TEMPORARY reductions that recognize the fact that the market value of a property has fallen. Once a Prop 8 reduced value has been enrolled, that property’s value must be reviewed each year and its assessed value will go up or down in tandem with its market value as of the January 1 property tax lien date. Detailed information on the Proposition 8 process and how it may affect your property may be found here.