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After receiving a reduction under Prop 8, what will happen if property values continue to decline?

April 26, 2017Continue decline Prop Property reduction values

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After receiving a reduction under Prop 8, what will happen if property values continue to decline?

1 Answer

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Once a property value has been lowered under Prop 8, the next year’s assessed value will be automatically reviewed by the county. The lower of current market value and Factored-Base-Year Value will be enrolled. Your property taxes could continue to go down without ever having to file another appeal.