Commercial Owners Seeking Temporary Property Tax Reduction for 2021-2022
The Santa Clara County Assessor’s Office is preparing to respond to the impact Covid-19 has had on commercial property (land and buildings) values. The Assessor’s Office has the authority to temporarily reduce property tax assessments in accordance with Proposition 8 if the market value—as of January 1—falls below the 2020 assessed value. Proposition 8 only allows for temporary reductions on land and buildings. However, tenants, such as hair and nail salons or restaurants, may receive reductions through a property owner in accordance with their lease.
Owners of commercial property (land and buildings) are requested to provide data by February 26. Below are examples of the requested industry-specific data. This information will be used by the Assessor’s Office to evaluate potential opportunities to reduce 2021-2022 property taxes for commercial properties most impacted by Covid-19.
To apply for a reduction, applicants are encouraged to have the above data compiled electronically prior to completing the on-line application below.
To watch the workshop, download the presentation or see additional information about the Webinar go to Proposition 8 Commercial Owners' Workshop
Related Links:
Decline In Value Request
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