FAQs • My assessment notice lists Taxable Value and Factored

My assessment notice lists Taxable Value and Factored Base Year Value, what value are my upcoming taxes based on?: Your upcoming taxes will be based on the Taxable Value.

Assessor

1. Why has my assessed value increased by more than 2%?: A property that has been reassessed under Proposition 8 is reviewed annually to
determine its market value as of the lien date, January 1st. The assessed value of
a property having a Proposition 8 value may increase each lien date (January 1st)
by more than the standard two percent maximum allowed for properties assessed
under their Factored Base Year Value (Proposition 13); however, unless there is a
change in ownership or new construction, a property’s assessed value can never
increase above its Factored Base Year Value (Proposition 13). Explanation of Proposition 8

2. If I do not agree with the assessed value what should I do?: You should first contact the Assessor’s Office and ask for an explanation and an informal review of the value. If you do not agree with the results of the informal review you should then file an application for changed assessment with the Clerk of the Board of Supervisors (Board of Equalization).

3. My assessment notice lists Taxable Value and Factored Base Year Value, what value are my upcoming taxes based on?: Your upcoming taxes will be based on the Taxable Value.

4. I plan to add another room on my home. Will you reappraise my entire property?: No. Only the value of your new addition will be added to your current assessed value.

5. I added a bedroom and did the work myself. Will I only be assessed on the cost of the materials?: No. New construction is assessed at the market value added to the property.

6. I just bought a house from my brother. Will I be assessed on the price I paid?: Not necessarily. Real property is valued at its current market value at the time it changes ownership. In a majority of cases, the sales price equals market value, but not always.

7. If I get married and add my spouse as Joint Tenant on the deed to my property, will my property be reappraised?: No. An interspousal transfer is not reappraised.

8. If I sell my boat after January 1st, am I responsible for the taxes for the next fiscal year?: Yes you are. The lien on ownership and the responsibility for the taxes is established on January 1st for the following tax year beginning July 1st.