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Ventura County appeals board urges applicants to provide purchase documents sought under Revenue & Taxation Code §441(d); schedules June 2 status hearing
Summary
At its April 7 meeting the Ventura County Assessment Appeals Board and the assessor's office debated whether applicants in three Jan. 1, 2024 decline-in-value appeals must produce property-acquisition documents. The board asked applicants to supply key materials and set a status check for June 2; remote attendance will be allowed.
Ventura County Assessment Appeals Board members on April 7 discussed whether landlords who sold large apartment complexes within two years of the Jan. 1, 2024 lien date must turn over purchase-related documents the assessor requested under Revenue and Taxation Code §441(d).
The assessor's office told the board it regularly requests acquisition documents for transfers that occur within three years of a lien date and said the sales are likely to serve as the best market comparables. An assessor's office representative read from the code and urged production: “every person shall make available for examination information or records regarding their property … details of property acquisition transactions, construction and development costs, rental income, and other data relevant to the determination of…
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