Advertisement
YOU ARE HERE: Burbank HomeCollectionsDeflation
IN THE NEWS

Deflation

FEATURED ARTICLES
NEWS
By Zain Shauk | October 2, 2009
GLENDALE — Homeowners may get an unprecedented property tax break in 2010 if the California Board of Equalization this fall determines there has been deflation in the past year, officials said Tuesday. Property taxes are calculated based on a home’s assessed value at the time of its purchase. Since the calculation is tied to inflation, property tax rolls have never decreased, according to the Board of Equalization. So assessors statewide found themselves scratching their heads this year about the possibility of deflation, which hasn’t happened with taxable property values since the state’s calculation methods were enacted with Proposition 13 in 1978, Los Angeles County Assessor Rick Auerbach said.
ARTICLES BY DATE
NEWS
By Zain Shauk | October 2, 2009
GLENDALE — Homeowners may get an unprecedented property tax break in 2010 if the California Board of Equalization this fall determines there has been deflation in the past year, officials said Tuesday. Property taxes are calculated based on a home’s assessed value at the time of its purchase. Since the calculation is tied to inflation, property tax rolls have never decreased, according to the Board of Equalization. So assessors statewide found themselves scratching their heads this year about the possibility of deflation, which hasn’t happened with taxable property values since the state’s calculation methods were enacted with Proposition 13 in 1978, Los Angeles County Assessor Rick Auerbach said.
Advertisement
Burbank Leader Articles Burbank Leader Articles
|