If my property value goes down in California, can I set a new prop 13 limit?
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In California, proposition 13 prevents property taxes from increasing when home values increase. The tax is based on the purchase price of the home. The tax is only allowed to ...show more
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Answer:
your county will assess the property tax, if your value decreases you can apply to have it reassessed reducing your tax if the value eventually increases, the appropriate amount will be assessed by the county assessor, all within the Prop 13 limits
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