8 What is It?
1978, California voters passed Proposition 8, a constitutional
amendment that allows a temporary reduction in assessed value
when a property suffers a decline-in-value. A
decline-in-value occurs when the current market value of your
property is less than the current assessed value as of January
You must demonstrate that on January 1, the market value
of your property was less than its current assessed value.
must file a claim form for a Decline-in-Value
Reassessment Application (Prop.8) with the Assessor
between January 1 and December 31 for the fiscal year beginning
on July 1. If December 31 falls on a Saturday, Sunday, or
a legal holiday, an application is valid if either filed
or mailed and postmarked by the next business day.
your claim form, provide the Assessor with information that
supports your opinion that the market value for your property
is less than the assessed value. The best supporting documentation
is information on sales of comparable properties. You should
select two comparable sales that sold as close to January
1 as possible, but no later than March 31. While the submission
of comparable sales is helpful for the Assessor in determining
the market value of your property, applications submitted
without comparable sales will be accepted and processed.
appraiser will review your claim form and the information
you provide. Other sales information available to the Assessor
may also be considered. If the market value as of January
1 is less than the trended base value1, your assessed value
will be lowered to the market value for the fiscal year
beginning on July 1. The adjusted value will be reflected
on your annual tax bill.
the current market value is higher than the trended base
value, no change
in assessed value will be made. If you disagree with the
Assessors findings, you may file an appeal with the
Assessment Appeals Board. You must file your appeal between
July 2nd and November 30th for your annual tax bill.
property was purchased for $500,000. During a three-year period,
the real estate market declined and recovered. The property
owner filed for a decline-in-value reassessment. The following
table shows the trended base value of the property, the market
value of the property, and the assessed value of the property.
Assumimg a 2% Annual C.P.I.:
Base Value Trended
Do properties other than single family residences qualify?
A. Yes. All real property qualifies.
What is a comparable sale?
A. A property sold with features that are similar to your
property is a comparable sale. Comparable sales information
helps you analyze the value of your home. For example, a property
similar in location, zoning, size, number of bedrooms and
bathrooms, age, quality and condition to yours that sold in
the open market is a comparable sale.
Where can I find comparable sales information?
A. A good place to start is online. The Assessors website
offers sales information for properties that have sold within
the last two years. The same information is available from
any Assessor District Office. Also, many websites offer sales
information free of charge. We would also be happy to assist
in pulling comparable market report.
I filed my Proposition 8 Application by December 31. When
and how will I know if my value will be reduced?
A. You will receive notification by mail before July 1.
If my assessed value is reduced, how long will it last?
A. Proposition 8 reassessments are not permanent, but last
at least one year. The assessed value may decrease or increase
depending on the market value of your property on January
1 of each subsequent year. Your assessed value will never
increase more than the trended base value. It is important
to remember, however, that base year values suspended by Proposition
8 reassessment values continue to increase by an annual inflation
factor of no more than 2% per year.
Do I File for Proposition 8 Tax Relief?
Forms are available by clicking on the form below
Form Do I Need?
Reassessment Application (Proposition 8) (RP-87)
Property is assessed at the time of sale or transfer (base
value) or new construction. That base value increases a maximum
of 2% (trend) each year (i.e. trended base value).
LA County Tax Assessor