The law requires any transferee acquiring an interest in real property (including mineral rights) subject to local property taxation assessed by the County Assessor to file a Change in Ownership Statement with the County Recorder or Assessor.
California law requires that the Assessor/Clerk-Recorder be notified of a change in ownership when a real property owner passes away. Notification must be made within 150 days of the date of death or at the time the Inventory and Appraisal is filed if the estate is subject to probate. Failure to file may result in penalties.
If the Preliminary Change in Ownership Report was not filed at the time of recording, the Assessor's Office will mail a request for the Change in Ownership Statement to be completed.
Churches leasing a portion of its property to a Public School, Community College, State College, or State University, including the University of California, may be exempt from real and business property taxes.
The transfer of a principal residence between parent and child may be excluded from reassessment if the fair market value of the family home on the date of transfer is less than the sum of the factored base year value plus $1 million.
