Reduced Assessments on the way for Riverside County

Proposition 8: The law requires the Assessor to annually enroll either a property’s Proposition 13 value (factored for inflation no more than 2% annually), or its current market value as of January 1 (lien date) of each year, whichever is less.  When the current market value replaces the higher Proposition 13 value on the roll, that lower value is commonly referred to as a "Prop 8 Value.”