Decline in Value definition
Decline in Value concept means the current full cash value of real property (as of the lien date) is lower than the base year value trended. This is sometimes referred to as Prop 8. An application based on a decline in value is only effective for the one year appealed.
Decline in Value means the current full cash value of real property (as of the lien date) is less than the base year value trended by the inflation factor.
Decline in Value means the current full cash value of real property (as of lien date) is less than the base year value trended by the inflation factor. (Also referred to as a Prop 8 value – RTC section 51 (a))