Antioch California online Form 656-B 2024-2025

Antioch California online Form 656-B: What You Should Know

The application must state the fair market or original cost value of the assets sold which must be reported on Form 8283 and Form 8810 for the tax year in which the sale occurred. The County's determination of property tax valuation is based solely upon the original purchase price of the property, not any subsequent improvement, improvement allowance, or any other similar valuation. However, as to improvements made to the property during the tax year, the County's determination as to property tax valuation must be in accordance with the provisions of the County's Comprehensive Development Ordinance. The comprehensive development ordinance shall include provisions to ensure that all property taxes are allocated and paid on a competitive basis based upon: (1) the assessed value of the property; (2) the property's present value; (3) any increase in value; and (4) the current condition of the property. (i) The County has no authority to require the appraisal of any improvement made on or after September 1, 2012. In addition, the County's fair market value determination shall conform to the California Consumer Protection Act (CPA) requirements. The CPA requires that a property with a fair market value equal to or lower than 120 days after its purchase (or, if such date is unknown, 120 days after its date of acquisition) shall be considered an improved parcel unless an appraisal demonstrates that the improvements have been performed and continue to be performed at not more than a 60-day delay from purchase. However, if the improvement is in excess of the requirements of the CPA, the County may not require an appraisal of the same improvement and shall determine its fair market value through the application of the California Consumer Protection Act. However, the county may require an appraisal of similar improvements. (d) The determination of the fair market value for the property must be verified and certified by an appraiser, approved by the Tax Collector or licensed under Chapter 656, Government Code, in a manner the County determines advisable, prior to payment of the taxes for that county. (e) The County will make its fair market value determination on the best efforts basis and will not be obligated to hold any appraisal hearing for any property, improvement, or parcel, if the tax assessment has not been received by the County by January 31, or, in case of a sale of real property at foreclosure, within 30 days after the foreclosure transaction, whichever is later.

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