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Subject:  Re: Loss on rental house Date:  11/27/2012  8:05 PM
Author:  foo1bar Number:  117010 of 127523

And I'm in Prop-13-land, where your assessed value starts at your purchase price and can go up by no more than 2% each year.

BUT - it *can* go down below your purchase price (prop. 8)

And really the County Assessor still does a FMV valuation. They have to for prop 8 purposes. However, the amount you are taxed on - the "factored base year value" is only going up by 2%.

--foo1bar <== currently a beneficiary of Prop 8.
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