Property tax relief possible

 

Last updated 8/21/2008 at Noon



SAN DIEGO — County Assessor Gregory J. Smith would like to remind property owners that tax relief is still available if their property’s market value has fallen below its assessed value. 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 reduced, the Assessor’s Office must then annually review the value of the property. When the property values incr...



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