Is there a way to reset the base year value for a home in California that has decreased in value?
The simple answer to this is no. The definition of "base year value" is the property's full cash value as of the date of that last change in ownership. So there is no way for you to reset the value back to that value. There is however a process to appeal the assessors value of your home. Each tax assessor is different but here in Orange County California you go to the assessors website download the form fill in the reasons why you think your value is less then what they have the home assessed for and include a copy of an appraisal for your property. At that point your application will be reviewed and its in the hands of the tax assessor for your county.
For more information on tax assessments in Newport Beach please contact one of our knowledgeable Newport Beach Realtors today!
My experience with Dave as a realtor predates the Coastal Real Estate Group but Dave helped us buy our first home too and was awesome. Very helpful, held our hands through the whole process, took us to more houses than I can count to help appease my hard to please wife. Plus as the years have gone by, Dave has also been able to provide advice on mortgage issues that have arisen since the original purchase. Next time we sell/buy you can bet I'll be giving Dave a call again. - Josh S.