Owners of Devalued Property May Apply for Tax Reduction

Under the provisions of Proposition 8, a measure passed by the voters in 1978, property owners who believe they have experienced a decline in value may file an application for a property tax reduction.

“We have made the process as simple and direct as possible,” said Los Angeles County Assessor Kenneth P. Hahn. “Applications are available at all of our 13 regional offices.” Office locations are listed on the back of tax bills or by phoning (213) 974-3211.

To support their claims of declining value, property owners can research sales of comparable properties on lists that are also available in the regional offices. Hahn recommends listing three comparable sales that clearly indicate that a property sold for less than its current assessed value on the applicant’s property tax bill.

The final date for filing decline-in-value claims is May 15. If a claim is valid, the assessment will be reduced on the next tax bill, which will be mailed in October.

“Last year, more than 13,000 properties were reviewed for a decline in value, and 5,000 qualified for Proposition 8 relief, resulting in an average reduction of $36,000 per parcel,” Hahn said.