When do real property appraisals happen?

Article XIII-A of the California Constitution (Proposition 13) requires the Assessor to reappraise real property at its full market value when either of the following occurs:

  • A change in ownership.
  • New construction is completed (or partially completed on the lien date).

When real property is reappraised due to the above, a new “base year” is established. This base year value must be adjusted annually by an inflationary factor, not to exceed 2% per year. In any year, your assessment, adjusted for inflation, is referred to as the “factored base year value.”

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1. What is the State Board of Equalization's responsibility?
2. What are the responsibilities of the Assessor?
3. What are the taxpayer's responsibilities?
4. When do real property appraisals happen?
5. What is a business personal property appraisal?