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Get APPLICATION FOR "DECLINE IN VALUE" REASSESSMENT (PROP

UE" REASSESSMENT (PROP. 8) Under California law, the taxable value of real property is the lesser of its base year value, compounded annually by an inflation factor (not to exceed 2%) or its full value on the lien date, January 1. This allows the Assessor to take into account reductions in value due to damage, destruction, depreciation, obsolescence, removal of property, or other factors causing a decline in value. If you have evidence to indicate the full value of your property on the last lien.

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