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Request for Decline in Value Review - Multi-Residential Properties (3 or More Units) - County of Santa Cruz, California
Request for Decline in Value Review - Multi-Residential Properties (3 or More Units) is a legal document that was released by the Assessor's Office - Santa Cruz County, California - a government authority operating within California. The form may be used strictly within County of Santa Cruz.
FAQ
Q: What is a Decline in Value Review?A: A Decline in Value Review is a process to determine if the assessed value of a property should be reduced due to a decline in market value.
Q: What are multi-residential properties?A: Multi-residential properties are buildings that have three or more units, such as apartment complexes or condominiums.
Q: Why would the assessed value of a multi-residential property decline?A: The assessed value of a multi-residential property may decline if the market value of similar properties in the area has decreased.
Q: How do I request a Decline in Value Review for a multi-residential property in Santa Cruz County?A: You can request a Decline in Value Review by submitting a written application to the Santa Cruz County Assessor's Office.
Q: What information do I need to include in my application for a Decline in Value Review?A: You should include the property address, your contact information, and any supporting documentation that shows a decline in market value.
Q: Is there a deadline for requesting a Decline in Value Review?A: Yes, the deadline to request a Decline in Value Review for multi-residential properties in Santa Cruz County is November 30th of the assessment year.
Q: What happens after I submit my application for a Decline in Value Review?A: The Santa Cruz County Assessor's Office will review your application and supporting documentation to determine if a reduction in assessed value is warranted.
Q: If my request for a Decline in Value Review is approved, what happens next?A: If your request is approved, the assessed value of your multi-residential property will be reduced, which could result in a lower property tax bill.
Q: Can I appeal the decision of the Decline in Value Review?A: Yes, if you disagree with the decision of the Decline in Value Review, you have the right to file an appeal with the Santa Cruz County Assessment Appeals Board.
Form Details:
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