Rules and Agreement of a Change in Ownership Exclusion for a Transfer of an Interest in Real Property between Cotenants that takes effect upon the death of one co-tenant.
Please read the directions carefully.
Section 480(b) of the Revenue & Taxation Code requires that the personal representative file this statement with the Assessor in each county where the decedent owned property at the time of death.
The law requires any transferee acquiring interest in real property or manufactured home subject to local property taxation, to file a change in ownership statement with the County Recorder or Assessor.
This exemption may be available to an elgible owner or veteran spouse of an owner of a dwelling that is occupied as the principal place of residence for the veteran. This exemption may also be available to an elgible owner or veteran spouse of an owner of a dwelling that is subject to supplemental assessments resulting from a change in ownership or completion of new construction.
To receive 100% of the basic or low-income exemption as of the date the claimant or the property qualifies, the initial claim must be filed between the date of qualification and on or before the next following january 1, or 90 days after the date the date of qualification, whichever is later.
For the low-income exemption only, a claim must be filed with your county assessor each year. Following the initial claim, subsequent annual filing periods are as follows:
For more information visit: http://www.boe.ca.gov/proptaxes/exempt.htm
Property used solely for either a free public library or free museum
Claim for Reassessment Exclusion for Transfer of Real property from Grandparent to Grandchild.
This claim may be used to file for the Homeowner's exemption for the assessment roll and the supplemental roll.
If homeowner's exemption claim form is is filed before February 15, applicant will receive 100% of the exemption amount. If filed between February 16 and December 10, applicant may receive the lesser of $5,600 or 80% of the taxable value of their property.
To view more about these exemptions: http://www.boe.ca.gov/proptaxes/exempt.html
Claim for Reassessment Exclusion for Transfer of Real property from Parent to Child.
Must be completed by the transferee (buyer) prior to a transfer of subject property
Section 170 of the revenue and taxation code provides for the reassessment of real and/or personal property which has been damaged or destroyed by a misfortune or by a calamity through no fault of the assessee.
California Law provides that under certain circumstances the initial purchaser of a building with an active solar energy system may qualify for a reduction in the assessed value of the property.
Certain articles of personal property which have been made available for display in a publicly owned art gallery or museum may be exempt from taxation