The economic slump in California's commercial real estate sector offers a chance for property owners to lower their property tax liability in 2024. Altus Group's data reveals a drop in commercial property values, particularly in central business districts. Filing appeals by September 16th or December 2nd, 2024, could help decrease tax assessments. Recent market transactions show properties selling at substantial discounts compared to assessment values set five years ago. Income-producing and special purpose properties may have appeal opportunities due to market changes. Rising interest rates have affected property assessments, enabling possible reductions.