Senate Bill 542 allowed for claims to be filed after the three year deadline from the date of transfer or date of death as long as claims are filed within six months of getting a Notice of Assessed Value Change. That way, until the notice is sent qualifying children or qualifying grandchildren who were transferred property still have a chance to file a claim.
So, what properties count? What are the effective dates for these propositions?
- Proposition 58 applies to transfers to children that occurred on or after November 6, 1986.
- Proposition 193 applies to transfers to grandchildren occurred on or after March 27, 1996.
Still, the properties couldn’t have gotten transferred to a third party and still qualify for the property tax protections afforded in these propositions. Additionally, the property tax reassessment exclusions might not be applied to the current tax bill. The exclusion might only get applied to the next year’s and future years taxes. You certainly can’t go back retroactively to the date of transfer just because you were finally send a Notice of Assessed Value Change.
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