The Chapter partnered with the Santa Clara County Assessor’s Office to hold a virtual Property Tax Workshop on January 21st for owners of commercial property to discuss Prop 8 and potential adjustment to market values.
The workshop addressed the impact COVID has had on commercial property values and the Assessor’s authority to temporarily reduce property tax assessments in accordance with Prop 8 if the market value (as of Jan 1) falls below the 2020 assessed value. County Assessor, Larry Stone, discussed what the law allows and the data his office requires from commercial property owners.