Get Stanislaus County Boe 267 First Filing Form

Effective April 1, 2021, Proposition 19 changes the exclusion from reassessment for those 55 and older, or disabled, who wish to transfer their base value to a replacement home. Taxpayers will be able to transfer their base value to a replacement home located anywhere in the State.

Prop. 19 allows homeowners to purchase a replacement home of greater value than their original home and transfer their tax base with an adjustment to account for the value difference in cases of homes destroyed by wildfires or other natural disasters.

Prop 19 stipulates that properties transferred from parent to children will trigger a property tax reassessment. This is unless at least one of the children will use the property as a primary residence. Also if the property has not gained more than one million dollars in reassessed value from its original assessment.

How much is the documentary transfer tax? The tax rate is $. 55 for each $500, or fractional part thereof, of the value of real property, less any loans assumed by the buyer.

BOE-267-H Welfare Exemption Supplemental Affidavit, Housing-Elderly or Handicapped Families. Supplemental affidavit filed with the Assessor by claimant to request a welfare exemption for housing used for elderly or handicapped families. BOE-267-L Welfare Exemption Supplemental Affidavit, Housing-Lower Income Households.

Homeowner's Exemption If you own a home and occupy it as your principal place of residence as of 12:01 am on January 1st, you may file the Claim for Homeowners' Property Tax Exemption. This will exempt up to $7,000 in assessed value and result in tax savings.

California Property Tax Planning under Proposition 19 If the LLC is the original owner, then as long as no new person gains more than 50% ownership/control of the LLC, then there will be no reassessment of the underlying property.

Starting on April 21, 2021, Prop 19 expands the group of homeowners who qualify for a transfer of their taxable value from their current home to a new property.