Notices of Valuation are mailed out whenever there has been a change in ownership, new construction or a decline in market value which may cause a change in assessment. Business personal property is valued annually.
Check the Notice of Valuation to make sure the information it contains is correct.
- Is both the property address and mailing address correct? If not, contact the Assessor’s Division to have it corrected.
- Compare the total taxable value with your prior year’s tax bill:
a. Does the total taxable value on the bill exceed what your property would sell for? If so, complete and submit a Decline in Value Reassessment application.
b. Did the real property values, such as land and buildings, go down? If so, the Assessor has probably already reviewed your property for decline in value.
If you own your home and occupy it as your principal residence, you may be eligible for a Homeowner’s Exemption. Check the Exemption box to make sure that you are receiving it. If you do not receive the homeowners’ exemption, contact the Exemption Department of the Assessor Division and request an application.
Did the taxable value increase by more than 2 percent over the previous year’s value? If your property was part of a Proposition 8 review for a decline in value, it could be that the market value of your property is increasing. If so, your assessment can increase to the market value each year until it catches up to your original Proposition 13 level. Another factor that can cause significant change in value is construction in progress.
If you feel your assessment is too high, contact the Assessor’s Division to discuss the valuation. The Assessor’s Division may or may not modify the valuation. If the office declines to modify the assessment, the decision may be appealed to the Assessment Appeals Board.