What is the difference between a Proposition 8 and a base year appeal in California?

A Proposition 8 appeal asks the County Assessor to enroll current market value as of January 1 where it is lower than the Proposition 13 trended value. It does not create a new factored base year value, so liability can rise again in later years, and it typically applies to a single year. A base year appeal addresses value newly assessed after a change in ownership or new construction and does establish the factored base value carried forward through the ownership.

How long is there to appeal a supplemental assessment?

Owners must file within 60 days of receiving a supplemental bill. Paramount notes that filing after that window can reduce the refund available, and that assessors frequently set the new base year value above the actual purchase price or the true cost of new construction.

Who has to file a Business Property Statement?

Every company must file a Business Property Statement, known as Form 571-L, with the County Assessor each year, and every location with a physical presence requires its own filing with its own deadline and county-specific requirements. Paramount notes the form is often handed to a junior staff member or a CPA without business personal property expertise, and that misclassified assets raise the bill for years.

Property tax appeal

Paramount Property Tax Appeal

Paramount Property Tax Appeal represents commercial and multifamily property owners challenging inaccurate assessments. Founded in 2009, the firm analyzes the valuation, builds the case, files the appeal and represents the owner through resolution, and states that property tax appeal is the only work it does.

Representation spans six states - California, Colorado, Texas, Nevada, Arizona and Washington - and twelve asset types, for private investors, family offices, institutional funds, developers and operating companies, from a single asset to a portfolio held across multiple jurisdictions. Because filing windows vary by state and county and a missed deadline closes the appeal for the year, the firm publishes state and county calendars covering assessment notice dates, appeal deadlines and payment due dates.

Beyond real property appeals the firm handles business personal property appeals and audit defense, review of whether a change in ownership was a reassessable event and whether the enrolled value reflects the transaction, Form 571-L compliance filing for companies with many sites, estate appraisals, and support for new construction developers to confirm the assessor enrolls the correct value from day one. Its business personal property division is staffed with former assessors and valuation experts and has handled more than 3,000 appeals and audits.

The firm works on contingency: it is paid only when it delivers a reduction, which it says makes it selective about the cases it takes. It reports more than $50 billion in assessed value represented, over $100 million in refunds secured, more than 45,000 appeals filed and an 85% success rate, with a leadership team directing more than 50 professionals across valuation, research, appeals, client care, compliance and billing.

Best for

Commercial, multifamily and business personal property owners in California, Colorado, Texas, Nevada, Arizona or Washington who want an assessment challenged on contingency. Not a fit for owners outside those six states.

What they do

Real property tax appeals
Business personal property tax appeals
Business personal property audit defense
Form 571-L compliance filing
Change-in-ownership and reassessment review
New construction assessment planning
Estate appraisals
Portfolio appeal management across jurisdictions

Details

Attribute	Value
Founded	2009
Team size	51-200 employees
How they charge	Contingency only: the firm is paid when an appeal produces a reduction - "No reduction. No fee."

What stands out

Founded in 2009 and states that property tax appeal is the only work it does.
Reports more than $50 billion in assessed value represented and over $100 million in refunds secured.
Reports more than 45,000 appeals filed and an 85% appeal success rate.
Represents owners in California, Colorado, Texas, Nevada, Arizona and Washington.
Business personal property team of former assessors has handled more than 3,000 appeals and audits.

Common questions

What is the difference between a Proposition 8 and a base year appeal in California?: A Proposition 8 appeal asks the County Assessor to enroll current market value as of January 1 where it is lower than the Proposition 13 trended value. It does not create a new factored base year value, so liability can rise again in later years, and it typically applies to a single year. A base year appeal addresses value newly assessed after a change in ownership or new construction and does establish the factored base value carried forward through the ownership.
How long is there to appeal a supplemental assessment?: Owners must file within 60 days of receiving a supplemental bill. Paramount notes that filing after that window can reduce the refund available, and that assessors frequently set the new base year value above the actual purchase price or the true cost of new construction.
Who has to file a Business Property Statement?: Every company must file a Business Property Statement, known as Form 571-L, with the County Assessor each year, and every location with a physical presence requires its own filing with its own deadline and county-specific requirements. Paramount notes the form is often handed to a junior staff member or a CPA without business personal property expertise, and that misclassified assets raise the bill for years.