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Assessor Property Tax Workshop for Commercial Property Owners
The Santa Clara County Assessor’s Office is preparing to respond to the impact Covid-19 has had on commercial property (land and buildings) values. The Assessor’s Office has the authority to temporarily reduce property tax assessments in accordance with Proposition 8 if the market value—as of January 1—falls below the 2020 assessed value. (https://www.sccassessor.org/index.php/online-services/decline-in-value/prop-8-important-point)

The Assessor’s Office is planning to proactively provide relief based upon market evidence of value declines below Assessed values. Assessor Larry Stone will discuss what the law allows and the data his office requires from commercial property owners to efficiently process appraisals to enroll proactive reductions for the 2021-22 tax bill and avoid costly appeals.

01:20:00

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