Prop 8 Assessed Value Reductions

By Karl Weiland

I am fully committed to the Prop 8 value reduction program

For the last three years, our office has made every effort to identify and reduce the assessments of properties that qualify for a reduction.

We currently have 22,000 properties under a lowered Prop 8 assessment. Most of these are property that had a change of ownership on new construction since January 1, 2003. In preparing this coming year's roll, we will again be looking at market values to determine which properties should have their assessed value reduced. We will focus our attention on commercial and investment properties, as we believe the increased vacancies reduce the value of income property.

If you believe that your property should have a reduced assessed value due to decline in value, you should contact the Assessor's Office at 530.621.5719 in Placerville, 530.542.3422 in South Lake Tahoe, or visit our web site at

http://co.el-dorado.ca.us/assessor/index.html

Thank you