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. If the fair market value of the family home on the date of transfer exceeds the sum of the factored base year value plus $1 million, the amount in excess of this sum will be added to the factored base year value.

Submission Deadline: The Claim for Reassessment Exclusion for Transfer Between Parent and Child Occurring on or after February 16, 2021 form must be filed either within three years of the purchase or transfer of the property or prior to the subsequent transfer of the property to a third party, whichever is earlier. If the claim is not filed within this timeframe, it may still be considered timely if submitted within six months of the mailing date of a notice of supplemental or escape assessment issued due to the purchase or transfer related to this claim. If a claim is not timely filed, the exclusion will be granted beginning with the calendar year in which the claim is filed.

Additionally, the transferee must file a Claim for Homeowners’ Property Tax Exemption (BOE 266) or Claim for Disabled Veterans' Property Tax Exemption (BOE 261-G) within one year from the date of purchase or transfer.

For transfers that occurred prior to February 16, 2021, please use the Claim for Reassessment Exclusion for Transfer Between Parent and Child form (BOE 58-AH).

Additional information about intergenerational transfer exclusions is available in two fact sheets provided by the Board of Equalization.

Please click below to download the form(s):