Riverside County property owners who believe their property’s market value has fallen below what the assessor has on record have a free, informal way to request a closer look—and the clock is ticking.
Under Proposition 8, the county can temporarily lower a property’s assessed value when its current market value has dropped below the assessed value as of the Jan. 1 lien date.
“Our office reviews market conditions each year to determine where adjustments are warranted under Proposition 8,” said Assessor-County Clerk-Recorder Peter Aldana. “For property owners who believe their value needs additional review, the Request for Review provides a direct way for us to take a closer look,” according to the county’s announcement…