Proposition 8 – Decline in Value FAQ

Thank you for visiting our site to do some research on Proposition 8. Below you will find frequently asked questions about what Prop 8  and what it can do for you, with regard to property taxes, if your property declines in value.

We are Tax Appeal Consultants, passionate about Property Tax Issues, Questions, and anything relating to Property Tax Appeals or Reductions. Doing research on Proposition 8 shows you are most likely also concerned about your property taxes. Is your Commercial or Residential property located in Southern California? If so we would like the chance to work with you.

Do you know if your Property Taxes are too high for your property, or if the value of your property has gone down? Have property values in your neighborhood been dropping? Anything happening in your area which negatively effects your property value could qualify you for a property tax reduction and possible refund.

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Proposition 8 – Decline in Value FAQ

What is the appeals process if the market value is less than the assessed value?
What is Proposition 8?
What steps do I take to have my property considered for Proposition 8 assessment?
The assessed value of my property increased more than two percent this year. There was no change in ownership or new construction. Doesn’t Proposition 13 limit annual increases in value to two percent?
What kind of information do I need to provide on the request for assessment review form?
I think the assessed value of my home has been higher than market value for the past two years. Can I apply for Proposition 8 review for both last year and this year?
If my assessed value is reduced under Proposition 8, how long will it last?
What can I do if I don't agree with the value the assessor has concluded after having filed my Proposition 8 application?
Do I file the Proposition 8 application annually?
I didn't look at my tax bill until it was due in November, and I paid it, but I'm pretty sure the assessed value is higher than the current market value. Is it too late to do anything about it now?
I filed my Proposition 8 application by December 31. When and how will I know if my property’s value will be reduced?
I filed a Proposition 8 application in May to request that the value enrolled on my property as of January 1 be reviewed. Can I postpone paying the first installment of my taxes due in November if the assessor hasn't notified me of any changes to my property value?
I still have questions on Proposition 8. Who can I call?
Do properties other than single-family residences qualify?
My property has gone down in value, why did I not receive a reduction?
How can the assessed value of my property be changed after you reduced it?
I received a decline in value reduction last year, do I need to file an application again this year?
What will happen to my assessment if values start to rise?
Is the Prop 8 value permanent?
Can a Prop 8 value increase exceed the annual 2%
maximum specified in Prop 13?
When will the value adjustment take effect?
What can owners do if they disagree with the assessed value?
Is there a difference between filing a Decline-in- Value application and filing an Application for Changed Assessment (formal appeal)?


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