The California State Board of Equalization is advising county Assessors to use 1.036 percent as Proposition 13's inflation factor for 2012/22.
California's Proposition 13 provides for assessed value each year to be the lower of:
- Actual market value
- Prior year's assessed value, indexed by 2 percent
- Prior year's assessed value, indexed by the change in the California Consumer Price Index
The State Board of Equalization determined that the California CPI increased by 1.036 percent from October 2019 to October 2020.