Amador County – Amador County Assessor Jim Rooney announced Wednesday that all properties assessed at their full base year value will see a reduction in their assessed value due to a declining California Consumer Price Index. “For the first time since the passage of Proposition 13 the California Consumer Price Index (CCPI) actually declined,” said Rooney. The passage of Prop. 13 in 1978 resulted in a cap on property tax rates in the state. The decline was measured between October 2008 and October 2009. Rooney said the decline is only 0.237 percent, but is “considered substantial when compared with the usual adjustment of a 2.0 percent increase.” Rooney said it is estimated that the total Amador County assessment roll will be reduced approximately $10.8 million dollars because of the negative inflation factor. “This blanket reduction will affect most properties in the county, but will not have an effect on the thousands of properties that have already had their assessments reduced under the guidelines of Proposition 8,” said Rooney. Properties with assessments already reduced do not need an assessment reduction as they will be automatically reviewed by July 2010. Rooney said that “even though the Assessors office plans to continue a proactive approach and reduce assessments without it being requested, we strongly encourage property owners to look at their assessments and to request an assessment review if they feel that their assessed value is too high.” For any questions or more information on assessments, visit the Assessor page on the county website or call the office at 223-6351. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 03 February 2010 17:00
Property Assessments See Reductions in Full Base Year Values
Written by Tom-
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Amador County – Amador County Assessor Jim Rooney announced Wednesday that all properties assessed at their full base year value will see a reduction in their assessed value due to a declining California Consumer Price Index. “For the first time since the passage of Proposition 13 the California Consumer Price Index (CCPI) actually declined,” said Rooney. The passage of Prop. 13 in 1978 resulted in a cap on property tax rates in the state. The decline was measured between October 2008 and October 2009. Rooney said the decline is only 0.237 percent, but is “considered substantial when compared with the usual adjustment of a 2.0 percent increase.” Rooney said it is estimated that the total Amador County assessment roll will be reduced approximately $10.8 million dollars because of the negative inflation factor. “This blanket reduction will affect most properties in the county, but will not have an effect on the thousands of properties that have already had their assessments reduced under the guidelines of Proposition 8,” said Rooney. Properties with assessments already reduced do not need an assessment reduction as they will be automatically reviewed by July 2010. Rooney said that “even though the Assessors office plans to continue a proactive approach and reduce assessments without it being requested, we strongly encourage property owners to look at their assessments and to request an assessment review if they feel that their assessed value is too high.” For any questions or more information on assessments, visit the Assessor page on the county website or call the office at 223-6351. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
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