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Businesses impacted by pandemic may see lower assessed value

Businesses impacted by pandemic may see lower assessed value
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El Dorado reduces assessed value of some businesses due to pandemic

SOUTH LAKE TAHOE, Calif. El Dorado County announced Tuesday that it is applying reductions to the assessed values of many businesses to recognize the economic impacts to certain industries resulting from the COVID pandemic. ....

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Businesses may see lower assessed values and taxes due to COVID-19

Submitted by paula on Tue, 06/01/2021 - 11:29am
EL DORADO COUNTY, Calif. - Many businesses in the county may see reductions to their assessed value due to impacts from the COVID-19 pandemic, the El Dorado County Assessor Karl Weiland announced today.
Business property does not fall under the Prop. 13 umbrella and is required to be assessed at the fair market value as of each lien date. Under Prop 13, real property is required to be assessed at the lower of the Prop 13 trended value, or the fair market value per Prop. 8, as of the lien date of January 1st.
El Dorado County follows assessment guidance provided by the California Assessors Association (CAA) and develops business valuation factors in conjunction with publications developed by the California State Board of Equalization. ....

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Bill to delay one section of Proposition 19 held in Senate committee

A bill that would have delayed the effective date of one section of Proposition 19 was held in committee with a promise to work further. ....

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No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond | Davis Wright Tremaine LLP

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The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential campaign featured many different tax proposals, and by now you have likely seen media coverage reporting on potential federal and state tax law changes. Here we offer a number of proposed changes and pending legislation that could affect your estate planning from the state to federal levels, as well as some strategies to mitigate looming increased tax burdens. ....

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