Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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Annotation 285.0018

285.0018 Base Year Values. For purposes of correction of a base year value pursuant to Revenue and Taxation Code section 51.5, an error involving "the exercise of assessor's judgment as to value" includes a value judgment error resulting from erroneous information provided by the taxpayer. Regardless of whether a property has been previously equalized, such an error must be corrected within four years, unless the erroneous information constituted fraud, concealment, misrepresentation, or failure to comply with disclosure statutes. The discovery during a mandatory audit that a base year value is incorrect due to erroneous information supplied by the taxpayer does not change the process for correcting base year values. C 4/12/1999.