County Assessor Bill Postmus announced Wednesday that he is using Proposition 8 to reduce taxes on 11,000 residential properties, saving the homeowners a collective $238 million.

The number of affected parcels is small when compared to San Bernardino County's 840,000 residential properties.

But it's another indication of a troubled housing market, Postmus said.

Given the region's housing woes, it's a critical tool Postmus can use to bring some relief to taxpayers when the economy begins to slip.

"We are seeing a softening of our housing market, and obviously, that's not good," Postmus said Wednesday. "On the other hand, our residents will have more money to pay for day-to-day life, in terms of having more dollars in their pockets."

A large portion of the reductions is in San Bernardino, Colton and Fontana.

Assessors in Riverside, Orange and San Diego counties are also making use of Proposition 8, Postmus said.

The tax reduction will decrease money coming into the county coffers, but only by about $2.7 million, Postmus said. That's because the county only receives about 11 percent of every tax dollar.

The state, which gets 60 percent, takes a far worse hit, Postmus.

Paul Biane, chairman of the Board of Supervisors, Chief Administrator Mark Uffer and spokesman David Wert did not return calls for comment.

The changes will be more significant in 2008, he said.

"Next year at this time, the Prop 8's will be much more significant, given that the market has softened significantly from this year versus this time last year," said Postmus, estimating as many as 60,000 parcels could see changes.

"We have a computer program that gives us general specifications," said Postmus, when describing which parcels are selected for a decrease. "Then we take it to that district office and they go out and see if the properties declined."

Proposition 8 reassessments are temporary. Once a reduction is made, the property's value must be reviewed by Jan. 1 of each year to ensure the fair market value is less than the base year value, plus inflationary adjustments.

The factored base year value will be restored if the market value exceeds the base year value.

Postmus' office can reduce the taxes on a property without a request from the owner.

Or, property owners can apply for one through the assessor's Web site at www.sbassessor.org or by calling (877) 885-7654.