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Why isn the reduction under Prop 8 permanent?

April 26, 2017PERMANENT Prop reduction

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Why isn the reduction under Prop 8 permanent?

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Prop 8 (now California State Revenue and Taxation Code Section 51) requires the Assessor to compare each property’s Factored-Base-Year value (Prop 13 value) with the current fair market value (Prop 8 value), and enroll the lesser of the two each and every year.