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Review Due to Decline in Value

The Assessor's Office is required to lower the assessment of real property to the lesser of its current market value or the factored Proposition 13 base year value as of January 1 of each year. That value is surrendered to the Auditor by July 1 and becomes the basis of the annual property tax billed by the Tax Collector.

The Assessor makes every effort to consider declines in value and to assess all property at the lesser of market value or factored base year value each year without the need for individual owners making an informal request or filing a formal appeal. Informal requests for review are considered individually by certified appraisers and can be filed by the property owner for the current year or the upcoming year. For more information, call (510) 272-3787.

  • More information on Decline in Value assessments

    • How does this impact your property taxes? In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a decline in market value. For property tax purposes a decline in value occurs when the current market value of your property is less than the assessed value as of lien date, January 1 of each year.

    To view your current assessed value click on the link and type in your parcel number or address.
    http://www.acgov.org/MS/prop/index.aspx

    You may not need to request an informal review of your property's assessment. Alameda County has been and will continue to be proactive in reviewing assessed values to ascertain whether temporary reductions are warranted. The 2009-10 tax year review project includes all properties that were granted a reduced assessment for 2008-09 and have not changed ownership during 2008. The project also encompasses all those single-family homes and condominiums that were acquired between January 1, 2002 and December 31, 2008. Sales of similar properties that sold near the lien date, January 1, 2009 will be analyzed and compared to properties within the project to determine market value

    After the review project is completed in June, all taxpayers will be notified of their 2009 assessed value during the latter part of July. Once notified, if you agree with the value no action on your part will be necessary and the annual tax bill sent out in October will reflect that assessment. If you disagree please call this office at (510) 272-3787 or come in person. The Assessor's office is located at 1221 Oak St., Rm. 145, Oakland, CA 94612-4288. Knowledgeable staff is available to assist you with your concerns from 8:30 a.m. to 5:00 p.m., Monday through Friday. If after contacting this office your value concerns are not resolved, you may file an Application for Changed Assessment with the Clerk, Assessments Appeals Board, P.O. Box 1499, Oakland, CA 94612-1499. For information on how to obtain and complete an application call (510) 272-6352 or visit the Clerk's website at http://www.acgov.org/clerk/assessment.htm. The appeal application must be filed between July 2 and September 15, 2009.

    If your property does not fall within the parameters noted above or is other than a single family home or condominium, it most likely will not be included in the review project. However, if you believe the assessed value of the property is higher than the January 1, 2009 market value you may complete and submit the Informal Request for "Decline in Market Value" Reassessment form below.

    Form:
    2009-10 Informal Request For "Decline in Market Value" Reassessment Form (53Kb)*

    Explanation:
    Decline in Market Value (66Kb)*

  • Decline in Value Qualifying Examples


    • Example 1
    • I purchased my home in the early 1990s
    • The assessed value on my property for 2009-10 is $454,082.
    • The market value of my property as of January 1, 2009 was $660,000.

    Your property in this example does not qualify for decline in value relief, as the assessed value is lower than the market value.

    Example 2
    • I purchased my home in May 2007 for $600,000.
    • The assessed value of my property for 2009-10 is $624,240 ($600,00 x 1.0404).
    • Similar model homes in January through March 2008 sold for $575,000.

    Your property in this example qualifies for decline in value relief, as the sales of comparable properties indicate that the market value on January 1, 2008 is lower that the assessed value.

    Example 3
    • I purchased my home in September 2006 for $700,000.
    • As of January 1, 2008 comparable sales indicated a market value of $650,000.
    • I was provided a temporary reduction for the 2008-09 year because the market value was less than the assessed value.
    • As of January 1, 2009 comparable sales indicate a market value of $625,000.

    Since the property qualified for a temporary reduction for 2008-09, our office will automatically review the assessed value for 2009-10 and based on the indicated value the property qualifies for a further reduced assessment of $625,000.



* Portable Document Format (PDF) file requires the free Adobe Reader.


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