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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12679
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Am I required to pay for a re-assessment on property my

Customer Question

Am I required to pay for a re-assessment on property my Father in Law owned? He passed away just short of 3 years ago and now we are being told we have to pay for this because we didn't submit a form to be excluded from paying - it is a form we were not aware existed.
JA: What state are you in? It matters because laws vary by location. Has anything been filed or reported?
Customer: California. Not sure what filed or reported means....
JA: Anything else you want the lawyer to know before I connect you?
Customer: I just want to know if we have to pay this.
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi.

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What you are talking about here is prop 58 ... where children, among others can be excliuded from re-assessment when the property is transferred to you at death.

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The definitions is as follows:

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A "child" for purposes of Proposition 58 includes:

  1. Any child born of the parent(s).
  2. Any stepchild while the relationship of stepparent and stepchild exists.
  3. Any son-in-law or daughter-in-law of the parent(s).
  4. Any adopted child who was adopted before the age of 18.

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Qualifying transfers are transfers of primary residence

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I do not see where there is a statute of limitations on filing the form ... If you'll bear with me, I'll check the regs

Expert:  Lane replied 1 year ago.

OK here's the code:

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Generally, to get relief retroactive to the date of transfer, a claim must be filed with the county assessor's office by the earliest of the following:

  • Within three years of the transfer
  • Prior to transferring to a third party

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If a notice of supplemental or escape assessment is mailed after the deadline for either of these periods has passed, then the transferee has an additional six months from the date of the notice to file a claim. For example, if a taxpayer received a Notice of Supplemental Assessment for a parent-child transfer dated January 1, 2003, and then received a Notice of Proposed Escape Assessment dated April 1, 2006, the taxpayer would have six months from April 1, 2006 to file a claim with the assessor.

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Finally, effective January 1, 1998, if the transferee has not transferred the property to a third party, applications may still be filed at any time after the three-year deadline; however, those filed after three years will only become effective for the lien date in the assessment year in which they are filed and will not be retroactive to the date of transfer. Therefore, the first year's enrolled value would be the base year value as of the year of transfer, factored for inflation plus any additional value which has been enrolled because of new construction.

Expert:  Lane replied 1 year ago.

And it looks like each county has a form.

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The title is "Claim for Reassessment Exclusion for Transfer Between Parent and Child, Form BOE-58-AH"

Expert:  Lane replied 1 year ago.

Here's a place where you can download your county's form:

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https://www.capropeformstest.org/forms/boe-58-ah

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Please let me know if you have any questions at all, before rating me

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If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit") ... Otherwise I receive no compensation from JustAnswer for the work here.

...

Thank you!

Lane

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986