Property tax relief possible
Last updated 5/1/2008 at Noon
SAN DIEGO — San Diego County Assessor Gregory J. Smith would like to remind property owners that tax relief is still available if a property’s market value has fallen below its assessed value.
A property’s assessed value is shown in the upper right-hand corner of the owner’s current tax bill. For all practical purposes, this only affects those property owners who purchased their property at the height of the current real estate market.
Under state law (Proposition 8), a temporary reduction in assessed value can be made when the market value falls below the assessed value. Once red...