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Businesses impacted by pandemic may see lower assessed value mtdemocrat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mtdemocrat.com Daily Mail and Mail on Sunday newspapers.
SOUTH LAKE TAHOE, Calif. El Dorado County announced Tuesday that it is applying reductions to the assessed values of many businesses to recognize the economic impacts to certain industries resulting from the COVID pandemic.
Submitted by paula on Tue, 06/01/2021 - 11:29am
EL DORADO COUNTY, Calif. - Many businesses in the county may see reductions to their assessed value due to impacts from the COVID-19 pandemic, the El Dorado County Assessor Karl Weiland announced today.
Business property does not fall under the Prop. 13 umbrella and is required to be assessed at the fair market value as of each lien date. Under Prop 13, real property is required to be assessed at the lower of the Prop 13 trended value, or the fair market value per Prop. 8, as of the lien date of January 1st.
El Dorado County follows assessment guidance provided by the California Assessors Association (CAA) and develops business valuation factors in conjunction with publications developed by the California State Board of Equalization.