In 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 1.
California property tax law provides a number of ways individuals and businesses can reduce their property tax assessments. The following information is provided to help you learn more about these programs. Please contact our office if you need any additional information. The button links below provide brief explanations of some of the programs available to Placer County property owners.
An exclusion occurs when the assessor does not reassess a property because the property or portions of the property are automatically excluded from reassessment or is eligible to be excluded if the owner properly files a claim.