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I already transferred my home on 1996. I was reading about
property tax increases in California and saw that a change in ownership can trigger a higher tax!
I am very worried! Can I be reassessed after all these years?

2007-06-07 05:16:51 · 2 answers · asked by charlotte q 2 in Business & Finance Taxes United States

2 answers

What county are you in? In most states, property taxes are assessed at the county level. A quick Internet search appears to indicate CA is the same. Where I live (OH), the county auditor is required to reassess every property every three years even if there is no change in ownership. If you retitled your house 10 years ago, I doubt any change at this point would be related to the change of ownership.

2007-06-07 11:27:23 · answer #1 · answered by STEVEN F 7 · 0 0

When you record the deed transferring the property from yourself to yourself as trustee of your trust, you are required to file a preliminary change of ownership form. The form asks if the transfer is to a revocable trust for the benefit of the transferor. If so, there is no transfer for Prop 13 purposes.

2007-06-07 12:26:11 · answer #2 · answered by mattapan26 7 · 0 0

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