Property tax bills back on the rise

Property values are increasing in California.
The good news is Proposition 13 limits the annual increase in the property’s taxable value for inflation to 2 percent. This value is known as the “factored Proposition 13 value.”
Proposition 8, in contrast, allows a temporary reduction of the property’s taxable value to reflect the current market value when housing prices decline. Because a Prop. 8 reduction is only temporary, it requires the taxable value to be reviewe...

Thank you for supporting your local Acorn! You need to be a digital subscriber to view the rest of this content. Please Login or Subscribe Now!