Property taxes cost California business owners a lot of money. The good news? You can cut these costs when property values go down. This guide shows you how.

What Is Prop 8?

Prop 8 is a law from 1978. It lowers your taxes when your property loses value. This helps during tough economic times.

Think of it this way: Your property has two values. One stays mostly the same (Prop 13 value). The other changes with the market (current value). When the market value drops below the Prop 13 value, you can pay less tax.

This tax break isn’t forever. It gets reviewed every year.

Should You File an Appeal?

First, watch your property’s value. Compare it to similar buildings nearby.

File an appeal if your property is worth 5-10% less than what you’re taxed on. Anything less might not be worth the effort.

Don’t Miss These Dates

In Los Angeles County:

• Start date: July 2
• End date: November 30

Miss these dates? You wait a whole year. Start early. Give yourself time.

What Proof Do You Need?

Good evidence wins appeals. Gather these items:

Basic proof:

• A professional appraisal
• Recent sales of similar buildings
• Photos of any damage or problems

For rental properties, add:

• List of current tenants and rents
• Your income records
• Your expense records
• Proof that rents are down

How to File Your Appeal

First: Call the assessor’s office. Ask for an informal review. Many problems get fixed this way.

Second: If that doesn’t work, file a formal appeal. Go to the Assessment Appeals Board.

Remember: Keep paying your taxes during the appeal. Late payments hurt your case.

The Lease Trap

Here’s a problem that surprises landlords:

A tenant signs a lease when taxes are low (thanks to Prop 8). Later, the market improves. Taxes jump back up. The tenant gets shocked by huge cost increases.

Fix: Talk about this when signing leases. Plan for it.

Be Careful with Ownership Changes

California has strict rules about who owns property. Small changes can cause big problems.

Example: You transfer property between your companies. Seems harmless. But it might reset your taxes to today’s high values.

Get expert advice before changing ownership in any way.

Why Get Help?

Tax appeals have many rules. You need to know:

• How to value property
• What evidence judges want
• How to present your case

One mistake can sink your appeal. Experts know what works.

We Make It Easy

Williams Capital Advisors helps you win tax appeals.

We do everything:

• Watch the market for you
• Tell you when to appeal
• Gather all the paperwork
• Handle the entire process
• Work with Los Angeles County daily
• Know exactly what they want to see

You get the best chance to win. We’ve done this many times before.

Start Saving Today

Lower property taxes mean more profit for you. Even small savings add up fast.

Call us now:

• Phone: (213) 880-8107
• Email: francisco.williams@williamscap.ai
• Website: williamscapitaladvisors.com

We’ll show you exactly how much you can save. The first conversation is free.

Don’t wait. Every month you delay is money lost.