The County Assessor is required to mail out the 2021 property valuation notices no later than March 1, 2020. Each planned community association should receive such a notice for its common area parcels. Please review the valuation notices received to ensure that they reflect common area valuation (“CAV”), which a valuation of $500.
If your planned community association does not receive any valuation notices, or if you suspect that all of the association’s common areas are not included on the notices received, please contact our attorneys so that we can ensure that all of the association’s common areas are properly titled and properly valued.
Even if your association has filed for CAV in the past, there is always a chance that the association will still receive a high valuation notice, either due to a re-classification of the property or an error by the Assessor. Do not ignore a high valuation notice! Instead, contact our office as soon as possible, as we may need to appeal the valuation. Note that the window to file such appeals is only 60 days after the valuation notice was mailed out.
Failure to address any improperly high valuation notices may result in a substantial property tax liability for the association.