Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 170.0090

170.0090 Stagnant or Declining Values. Following the year a base year value is first enrolled, Revenue and Taxation Code sections 51 and 2212 require that the value shall be factored by the statewide consumer price index up to a maximum of two percentage points each year.

The correct value to be enrolled in any year is the lower of a property's factored base year value or its current market value. If the value of a property has leveled off or declined since the base year value was established, current market value would be the lower value and should be enrolled. Enrolling a current market value does not establish a new base year value, however, and factoring of the base year value should continue each year. When the value of a property increases over and above the current factored base year value, that value would again be the lower value and should be enrolled. LTA 2/19/1982 (No. 82/25).