At that time an informal Proposition 8 request for a reduction below the assessed value may be submitted to the Assessor. This informal request is separate from a formal Application for Changed Assessment filed with the Clerk of the Board. In 2012 the Assessor's Office proactively provided over 120,000 properties with temporary Proposition 8 reductions in assessed value.
Informal Request for Decline In Value (Prop 8)
California Revenue and Taxation Code Section 51(a)(2)
A Proposition 8 reduction is a form of assessment relief. It may be applied by the Assessor when a property's assessed value exceeds the current market value. By the end of June all Santa Clara County property owners receive notification of their assessed value.
