Effective April 1, 2021, Proposition 19 provisions potentially affect the former base year value transfers for persons age 55 and over that were added by Propositions 60 (1986) and 90 (1988). California Proposition 19, also known as the “Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment,” was a ballot measure that was passed in November 2020. Proposition 19 made several changes to property tax rules in California. Under Prop 19’s base year value transfer provision, if the transfer of taxable value is to a replacement primary […]

Property Tax Assessments

Tax & ExemptionsAd Valorem Tax, Appraisal, change of ownership, Living Trust, Property Tax Appeal, Reassessment

As a general rule, real property in California is reappraised for tax assessment purposes when there is a change of ownership, new construction, or the market value declines below the previously assessed value. However, in the nonprofit world of real property, a reassessment may also occur due to a loss of a Church, Religious, or Welfare exemption. Although these exemptions are explained in another article, their affects can greatly impact your property tax assessment. Otherwise, the assessed value of the property will increase by no more than 2% per year. […]

Tag Archives: Reassessment

California Proposition 19

Property Tax Assessments