California BOE Issues Letter to County Assessors on 2022-23 Inflation Factor, Base Year Value Change

The California Board of Equalization Dec. 27 issued a letter to county assessors directing them to use an inflation factor of 1.02 in preparing 2022-23 assessment rolls for property tax purposes. The inflation factor is based on changes in the California Consumer Price Index for all items, as determined by the Department of Industrial Relations. The letter also includes final inflation factors and base year value changes from prior years, and that the base year value change for 2022-23 is 2 percent. [Cal. State Bd. of Equalization, SBOE Letter to Assessor 2021/065, 12/27/21]

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