Contending that property taxes should reflect the current real estate slump, a group of property owners filed suit Wednesday in Los Angeles Superior Court to force the county tax assessor to adjust assessments of homes that have declined in value.
Five homeowners and real estate partnerships, represented by former county Assessor Alexander Pope, contend that Assessor Kenneth P. Hahn and the State Board of Equalization have not followed the mechanisms set up after Proposition 13 to lower assessments when there is a drop in the market values of homes.
