California Bulletin: Bit of Proactive Covid Property Value Relief News

Property tax proactive covid relief for California

As commercial property owners and agents are getting geared up to challenge California property tax values in light of the calamitous Covid-19 impacts of last year, a bit of good new, at least for Santa Clara county.  It has been reported that Santa Clara County is looking at proactively addressing property tax relief for owners affected by the pandemic.  

Assessor Larry Stone asked commercial property owners to notify his office if the market value of their property dropped below the assessed value, as of Jan. 1, 2021. “Hundreds of owners requested reductions, and our appraisers are evaluating each request,” Stone said. “We plan to review as many of the requests as possible by June, when property owners receive the annual assessed value notification.”

While this is potentially great news (for Santa Clara County at least), it is heavily recommended to review your assessment when it comes out.  If your property has been affected by the Covid event and it has not been significantly lowered from last year’s assessment, you may want to take a deep look into appealing the value.