Market value declines
The property’s current market value may fall below the value used for taxation under Proposition 13.
Proposition 8 and temporary assessment reductions.
When a property’s market value falls below its taxable value, Proposition 8 may allow the assessed value to be reduced for that tax year.
THE SHORT VERSION
A market-value protection, not a permanent reset.
Proposition 8 is associated with temporary reductions when the current market value is lower than the property’s Proposition 13 factored base year value. If the market recovers, the value can increase again, subject to California rules.
HOW IT WORKS
Four things to understand
You present evidence
Owners can provide relevant information, such as comparable sales, appraisals, photographs, and property records.
The value may be reduced
If the evidence supports a lower value, the assessment may be reduced for the applicable tax year.
Recovery is possible
When market conditions improve, the assessor may increase the value again under the applicable California limits.
FILING WINDOW
Deadlines depend on your county.
Annual filing windows are commonly July 2 through November 30, but the exact dates and process can vary. Check your county assessor or Assessment Appeals Board for current forms, deadlines, and instructions.
View California property-tax resourcesKEEP IN MIND
Proposition 8 versus Proposition 13
Proposition 13
Establishes the base-year value and limits annual increases under California’s property-tax system.
Proposition 8
Can provide a temporary reduction when market value falls below the applicable Proposition 13 value.
This page is general educational information, not legal or tax advice. Assessments, deadlines, evidence requirements, and appeal procedures vary by county. Confirm your situation with the relevant county office or a qualified professional.
