California Property Tax Reassessment: Basics for North County Owners
Posted by Tyson Lund on
California property taxes are tied to assessed value. A change in ownership, and some improvements, can trigger a new assessment. Annual inflation adjustments are capped under Proposition 13 rules. Parent-child, grandparent-grandchild, and 55+ base-year transfer rules have changed since this post was written (including Proposition 19). Use the sections below as a starting vocabulary only. For a transfer or sale you are planning, confirm current forms and deadlines with your tax professional or the county assessor, and call us if the real estate side is next.
Determining the assessed value of the property is the job of the county assessor’s office, who computes the tax amount based on the current market value when ownership changes occur, as well as a…
3196 Views, 0 Comments