Prop8 Commercial Property Owners Workshop

Assessor Leads Property Tax Workshop for

Commercial Property Owners Seeking Property Tax Relief

County Assessor Larry Stone led a webinar for owners of commercial property (land and buildings) on January 21, 2021. Organized in partnership with over 20 business organizations in the County, the presentation explains potential opportunities to reduce 2021-22 property taxes for commercial properties most impacted by Covid-19.

When market value (as of the lien date, January 1, 2021) falls below the existing assessment, the Assessor’s office is required to temporarily reduce the assessed value to reflect the declining market value. Providing relief to commercial property owners is much more complicated than providing relief to single family homeowners, which is the purpose of this workshop.

During the webinar Assessor Stone reviewed Proposition 8, which allows for a temporary reduction, and the information and data his office requires from commercial property owners to efficiently appraise and process proactive reductions for the 2021-22 tax bill, thus avoid costly appeals.

This year we will take informal review requests on our website for commercial properties earlier than usual, beginning on February 1. We will continue to take requests through August 1.

Annual Notification Cards will be sent at the end of June, and final notice of informal review will be sent around August 15.

To learn how to apply on-line for temporary property tax relief, owners of commercial property (or their representative) are encouraged to watch the property tax workshop or visit the Assessor’s Website www.sccassessor.org.

It should be noted that Proposition 8 only allows for temporary reductions on land and buildings. However, tenants, such as hair and nail salons or restaurants, may receiver educations through a property owner in accordance with their lease. The Assessor’s Office is evaluating options for providing property tax relief on equipment and machinery, and may host a separate webinar on this topic in the future.

The webinar is available at https://youtu.be/ZuUMH9ApEb0 and the Powerpoint is below. Also below are answers to questions submitted in advance to the webinar and the announcement of the webinar.

David K. Ginsborg

 
  • Deputy to the Assessor
  • Phone: 408-299-5588

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