Under certain circumstances described below, California law allows taxpayers the ability to permanently or temporarily reduce their assessed value, and/or transfer their protected Proposition 13 assessed value. Below is information about the major programs designed specifically for a disabled person.
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Revenue & Taxation Code Section 74.5
This claim is for the exclusion from reassessment of seismic retrofitting improvements and improvements utilizing earthquake hazard mitigation technologies to an existing building.
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Let's say you bought a home several years ago for $100,000. The Assessor determined that the purchase price was the fair market value, so the new base year value of the property was set at $100,000.
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