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!
David is a great realtor. He helped us buy our first home. It was a short sale and was quite a process but David kept in regular touch with the banks and seller's agent and helped us complete the process. Very happy in our house. David is also very patient which is a great trait considering my wife and I ran him ragged on many of days looking at numerous properties, sometimes multiple times. I would and have recommended David to other friends looking for a realtor. Steve E