Did you know that transfers between parents and children will not cause a reassessment for property tax purposes? The following questions and answers help explain this exclusion program. For further information, please call the Assessor's Office at (619) 531-5848.
This exclusion prevents an increase in property taxes when real property is transferred between parents and their children.
The principal place of residence and up to $1 million in assessed value of any other real property may be transferred by each parent or child without a property tax increase.
Natural children, children adopted before the age of 18, stepchildren (as long as the parents are still married), and sons- and daughters-in-law are considered children under this exclusion program.
A claim should be filed within three years of the date of transfer or death, or prior to a transfer to a third party. In addition, a claim may be filed within six months after the mailing date of the supplemental notice or escape assessment.
The only time the transfer from grandparent to grandchildren will qualify is if the "middle generation" is deceased and the transfer is on or after March 27, 1996.
Yes. A copy of the trust should be submitted with the application.
No. In order to qualify, the property must be transferred to the individual owner's name before the application is submitted.
In order for one to qualify, an application form must be filed with the Assessor's Office. To obtain the necessary application, please call the Assessor's Office at (619) 531-5848.