BEST ANSWER
Hi Jessica, Prop 8 allows individual homeowners to submit their own request for property tax reassessment. The form, and supporting information, for Riverside County can be found here:
http://riverside.asrclkrec.com/ACR/INassessment.asp#prop8
An appraisal by the homeowner is NOT required however you are required to show similar property sales. The BEST way to collect this information is to engage a local Realtor to request this information (a good reason to reconnect with the Realtor who sold you the house - if you enjoyed working with that person)
After any Prop 8 reassessment, your property assessment can change upwards at an accelerated rate faster than the CA's constitutional 2% cap normally expected, and will only occur at this accelerated rate until your property has reached the before-prop8 reassessment level.
Best Regards, Steve
Wed Mar 4 2009, 08:13