Summary
With the passage of Proposition 8 in 1978, Section 51 was codified into the California Revenue and Taxation Code. This code section provides that the assessed value of any property shall not exceed its full market value on the January 1 lien date. If you have evidence that the full market value of your property on January 1, 2024, is less than your 2024-2025 assessed value, you may wish to complete this 'Request for Informal Assessment Review' form. If an assessment reduction results from this review, it is a temporary reduction in accordance with Proposition 8.