Change of Ownership FAQ

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Change of Ownership FAQ for Possible Property Tax Reduction

Does a transfer of a present interest in real property occur only when there is a sale or purchase of a property?
How does a change in ownership affect property taxes?
What constitutes a change in ownership? Are there any exclusions from reassessment?
We've finally paid off our home loan. Is this a cause for reassessment?
My brother and I together own two investment condominiums but we have now decided to hold title to each one separately. If I transfer my 50 percent ownership interest to my brother on one of them and he transfers his 50 percent ownership interest on the other to me, will both properties be reassessed?
I bought a house under a contract of sale but we did not have it recorded. Do I need to file any change of ownership form?
My mom, sister, and I purchased a commercial property as joint tenants. If mom grants her interest to me and my sister, does this transfer constitute a change in ownership?
If I add a friend or sibling on as a joint tenant to my property, would this cause a reappraisal at today's market value? What if I add them as tenants-in-common?
My brother and I purchased a house a number of years ago. We took title as joint tenants and have been living there ever since. If my brother dies, will his share be reassessed?
My domestic partner and I live in a home that I own. May I transfer one-half of my ownership interest in the property to my partner so that we could hold title as tenants-in-common without the transfer being a change in ownership reassessment?
Are changes in leases subject to change in ownership rules?
How do I inform the county assessor that I purchased a property?
What is a Preliminary Change of Ownership Report form and a Change in Ownership Statement?
What are the penalties for not filing a Preliminary Change of Ownership Report or Change of Ownership Statement?
What is the statute of limitations on an escape assessment if I haven't filed a Change in Ownership Statement?
If the owner responds within 90 days of a request to complete a Change of Ownership Statement from the county assessor but not within 90 days from the date of transfer, can a penalty be imposed?
I no longer own my business, why am I being billed?
Will refinancing of my property result in a reassessment?
Can the property be reappraised upon the death of the owner?
Can the property be reappraised if the decedent held the property in a trust?
Do I still have to file a Change of Ownership Statement if the property was held in the decedent’s trust?
How does the Assessor update the mailing address in a death of property owner situation?
Will the property be reassessed if the decedent’s property passes to the spouse or registered domestic partner?
Will the property be reassessed if it passes to the decedent’s child(ren)?
Are parent/child transfers automatically excluded from reassessment?
Is there a deadline for filing a Claim for Reassessment Exclusion for Transfer between Parent and Child?
Where can I learn more about parent/child transfer exclusions?
Is the property eligible for a reassessment exclusion if it is inherited from a grandparent?
Is the property eligible for reassessment exclusion if it is inherited from a family member?
What documents need to be submitted to the Assessor’s office upon the death of a property owner?
Why did I receive a Change of Ownership Statement (COS)?
Do I have to provide the purchase price and financing information?
My name is not spelled correctly on the property tax bill. How can I have the spelling corrected or changed?
Why does my tax bill still have the previous owner's name on it?
Should I notify the Assessor Department when an owner of real estate dies?

 

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