General Information
We understand property owners have concerns regarding the current real estate crisis and the impact it may have on their property taxes. Property tax law provides certain protections for taxpayers when property values decline. Under Proposition 8, qualifying properties will be given a temporary reduction in their taxable value which translates into a lower property tax.
The continued decline in residential property values throughout Fresno County has resulted in many reduced assessments. The Assessor will be reviewing properties purchased between January 1, 2001, and January 1, 2009. The assessed value is set based on a January 1, 2009 lien date and will be reflected on the 2009 tax bill due out no later than November 1, 2009.
The two graphs below represent examples of accepted and denied Prop 8 claims. Click here for additional information.
Examples:
Properties currently adjusted under Prop 8
|
|
Properties not adjusted under Prop 8 |
|
More information on Decline in Values: