Property Tax Glossary

Plain-language definitions of the property tax and appeal terms homeowners actually run into. Each links to a short explainer.

• Appeal vs. Protest (Property Tax Terms Explained)

  "Appeal" and "protest" both mean challenging your property tax assessment — but the word changes by state. Here's what each means and how the process works.

• Assessed Value vs Market Value

  Assessed value is the figure your county uses to calculate property tax; market value is what your home would sell for. Here's how they differ and why the gap matters.

• Base-Year Value

  A home's base-year value is its market value when you bought it or built it, the starting figure California uses to calculate your property tax.

• BOE-305-AH — Assessment Appeal Application Explained

  BOE-305-AH is California's official form for formally appealing your property tax assessment. Here's what it is, when to file it, and how it fits the appeal process.

• Comparable Sales (Comps)

  Comparable sales — "comps" — are recent sales of homes similar to yours. They're the core evidence in a property tax appeal. Here's how comps work and how they're adjusted.

• Effective Property Tax Rate

  Your effective property tax rate is the tax you actually pay divided by your home's value. It's a clearer comparison than the posted mill rate. Here's how it works.

• Homeowners' Exemption (California Property Tax Explained)

  California's Homeowners' Exemption takes $7,000 off the assessed value of your primary residence — about $70 a year. Here's who qualifies and how to claim it.

• Lien Date

  The lien date is the single day each year, January 1 in California, when your home's taxable value is locked in for the upcoming tax year.

• Proposition 13

  Proposition 13 caps California property tax at 1% of a home's base-year value and limits annual increases to 2%, until the property changes hands.

• Proposition 8 (Decline-in-Value)

  Proposition 8 lets California counties temporarily lower a home's assessed value when its market value falls below the protected base-year value.

• Reassessment

  A reassessment (or revaluation) is when your county updates the assessed value of your property. Here's what triggers one, how cycles work, and why it can spike your tax.

• Supplemental Assessment (Property Tax Term Explained)

  A supplemental assessment is a mid-year reassessment triggered when you buy a home or finish new construction. Here's why you get a separate, prorated tax bill.