Property Tax Appeals for Multifamily Owners in Greater LA Area: What to Review Before 11/30

Property Tax Appeals for Multifamily Owners in Greater LA Area: What to Review Before 11/30

Your Property May be Over-Assessed! You Can Lower Your Property Taxes!

Details

Date / Time: Tuesday, October 6, 2026 - 11:00 a.m. – 12:00 p.m. (Noon)

Cost: FREE to all AAGLA members

How to Attend: Please log in to register. Register online at www.aagla.org/events.

As costs continue to increase, for many of us, rental income is “capped” or stagnant. But there’s one major cost you can reduce, and that’s your property taxes. Our rigid housing regulations coupled with higher interest rates and challenging economic conditions have had negative implications for your property’s value. Without realizing it, your property may be over-assessed by the county assessor’s office, which often goes along merely “upping” your tax assessment by 2% each year without even giving economic realty a second thought.

Passed in 1978, California Proposition 13 is a constitutional amendment that drastically limits property taxes by capping the tax rate at 1% of assessed value (plus local voter-approved bonds) and restricting annual assessment increases to a maximum of 2%. It changed California to an acquisition-value system, where property is reassessed to market value only upon sale or new construction.

Many Los Angeles Area apartment owners are overpaying property taxes without knowing it. Join Wes Nichols for a practical overview of the appeal process and what current market conditions mean for your assessment.

During this webinar, we will discuss:

• How a multifamily building is actually valued, including Proposition 8, the decline-in-value provision the county does not apply automatically
• Why Los Angeles multifamily is frequently over-assessed. Rent stabilization ordinances (RSO) under local RSO and state law, Assembly Bill 1482, rent caps hold rents down while assessed values continue to rise
• What evidence supports a reduction: current rent roll, trailing twelve-month operating statements, and income approach applied to rent-controlled assets
• The process, the timeline, and the refund, from the November 30 filing through stipulation or hearing
• How to determine whether your apartment property is eligible for a property tax appeal.
• How the rising cap rates, increasing concessions, and stalled rent growth are creating strong property tax reduction arguments today.
• What the appeal process looks like from start to finish, including key deadlines.
• How Paramount Property Tax Appeal represents you at no cost until a tax reduction is secured.

California property tax reassessments can be lowered if a home’s market value falls below its Proposition 13 factored base year value, a temporary reduction known as a Proposition 8 decline-in-value. Property owners should check their annual assessment, as this reduction is not automatic, and file a request with their county assessor between July 1 and October 31 of each year.

A property owner can undertake to seek a reduction in assessed value and reduce property taxes. Some of the reasons available to property owners for reducing their assessment and property tax bill include:

• Proposition 8 (Decline in Value): If the market value of your property as of January 1 is less than your current assessed value (factored base year value), the assessor is required to enroll the lower value.
• Request an Informal Review: Contact the county assessor’s office to request a review of your property value if you believe the market value has dropped.
• File a Formal Appeal: If the informal review is not satisfactory, file a "Decline in Value" appeal with the Assessment Appeals Board (often by November 30, but deadlines vary by county).
• Disaster Relief: If a property is damaged or destroyed by a misfortune or calamity, an owner may be entitled to property tax relief under Revenue and Taxation Code section 170.
• Proposition 19 (Base Year Value Transfer): Seniors 55+, disabled persons, or victims of wildfires/natural disasters can transfer their lower tax base to a new, replacement home anywhere in California, reducing their tax burden.

Property tax appeal deadlines are strictly enforced, typically falling between July 2 and November 30. When property values recover, the assessment can increase again by more than 2% annually, up to the original Proposition 13 base value.

This will be a live, interactive, online learning session. Live Q&A will take place throughout the online seminar. Please join us for what will surely be an extremely informative and timely presentation. Please log in to register on our website at www.aagla.org. If you have any questions, please contact Events Manager, Diana Alcaraz, via email at diana@aagla.org. We look forward to seeing you.

Please stay diligent and be healthy!

WARNING: THE INFORMATION PROVIDED DURING THIS WEBINAR IS FOR GENERAL INFORMATION PURPOSES ONLY. ABSOLUTELY NO LEGAL OR TAX ADVICE IS BEING GIVEN DURING THIS WEBINAR. BEAR IN MIND THAT EVERY SITUATION IS UNIQUE, AND THE LAWS, RULES AND REGULATIONS ARE SUBJECT TO CHANGE AT ANY TIME. SO, BEFORE ACTING, BE SURE TO OBTAIN TAX AND/OR LEGAL ADVICE FROM A LICENSED PROFESSIONAL.

Seminar Leader: 

Wes Nichols, Founder and Chief Executive Officer, Paramount Property Tax Appeal

 Wes Nichols founded Paramount Property Tax Appeal in 2009 and serves as Founder and Chief Executive Officer. The firm represents commercial and multifamily property owners in assessment appeals across California, Colorado, Texas, Nevada, Arizona, and Washington, with CPAs, certified appraisers, and CRE veterans leading the practice. Paramount has filed 45,000+ appeals with an 85% success rate, a 24% average reduction in assessed value, and $100M+ in refunds secured. The firm works on contingency and is paid only when it secures a reduction.

For more information, go to: www.paramountpropertytaxappeal.com/, or call (858) 225-1200.

Moderator: 

Daniel Yukelson, AAGLA Chief Executive & Executive Director

Daniel Yukelson is currently the Chief Executive and Executive Director of The Apartment Association of Greater Los Angeles (AAGLA). As Certified Public Accountant, Yukelson began his career at Ernst & Young, the global accounting firm, and had served in senior financial roles principally as Chief Financial Officer for various public, private and start-up companies.

Featured Sponsor: 

Paramount Property Tax Appeal

Paramount Property Tax Appeal is a specialized property tax advisory firm representing commercial real estate owners across the United States. The firm operates on a contingency basis, aligning its compensation directly with the results it delivers.

Paramount focuses exclusively on reducing property tax liabilities through disciplined, data-driven valuation analysis. Each engagement begins with a detailed review of income performance, market conditions, and comparable properties to determine whether a defensible basis for reduction exists. When it does, the firm manages the entire appeal process, from initial analysis through filing, negotiation, and representation.

Since its inception, Paramount has filed more than 45,000 appeals, representing over $50 billion in assessed value and securing more than $100 million in tax savings for its clients. The firm represents a broad range of asset types, including multifamily, office, retail, industrial, and hospitality properties.

Paramount’s work is grounded in current valuation methodology and case law, allowing it to navigate complex assessments with precision. Clients engage the firm not simply to file appeals, but to ensure their property values reflect current market reality and support long-term asset performance. For more information contact Paramount Property Tax Appeal at (888) 385-9203 or call (858) 225-1200, or go to https://www.paramountpropertytaxappeal.com/.