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Sublease Space; Reduced Rate of $2.05, FSG 2,732 SF Class A Office Space

 

California Deadline for Property Owners to
Appeal Their Property Taxes

March 31st of each year is the Comparable Sales evidence cut-off date.

Sales of comparable properties used for determining assessed value may have occurred any time prior to the date of your valuation, but those closest in time are the best indicators of value. However, an appeals board may not consider comparable sales that have occurred more than 90 days after the date your value was set by the county assessor.

Unless there has been a change of ownership or new construction, the value date for assessable properties is the Lien Date of each year.

January 1st at 12:01 am is the moment in time (the lien date) all taxable property is valued. Since assessed property value is constantly changing (increase/decrease) this moment in time is the "value point" used to ensure all taxable property is valued at the same time for equitable application of property taxes.

Annually, whoever owns taxable property on January 1 (the lien date) becomes liable for a tax calculated at 1 percent of the "taxable" value of the property. Article XIII A of the California Constitution (Proposition 13) also permits adding to the 1 percent tax rate a rate needed to pay interest and redemption charges for voter-approved indebted ness. Such additional rates will vary from area to area within a county.


Courtesy of Ken Sullivan, Esq.
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