Auerbach v. Assessment Appeals Board No. 1

*157Opinion

CHIN, J.

Proposition 13, adopted in 1978, limits the amount that the assessed value of real property may be increased to reflect increases in the property’s actual market value. When ownership of the property changes, however, the property may be reassessed at its current market value. (See Pacific Southwest Realty Co. v. County of Los Angeles (1991) 1 Cal.4th 155 [2 Cal.Rptr.2d 536, 820 P.2d 1046] (Pacific Southwest).) Changing the assessed value of real property to its current market value can result in a substantial increase in the tax on that property. Thus, determining whether and…