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What Are Propositions 58 & 193?
They are constitutional initiatives passed
by California voters. They provide property tax relief by
preventing reassessment when real property transfers between
parents and children (Proposition 58) and from grandparents to
grandchildren (Proposition 193).
How Do These Propositions Work?
Under Proposition 58, if the parent or
child who acquires the property files a claim, which is approved
by the Assessor, the reassessment will be excluded. Under
Proposition 193, if the grandchild who acquires the property
files a claim, which is approved by the Assessor, the
reassessment will be excluded. If the property was already
reassessed, the reassessment will be reversed. In these
situations, a corrected tax bill will be issued, and/or a refund
will be processed.
Who Qualifies?
Children
- Any child born of the parent(s).
- Any stepchild of the parent(s) and the
spouse of that stepchild while the relationship of
stepparent and stepchild exists. The relationship exists
until the marriage on which the relationship is based is
terminated by divorce or, if the relationship is terminated
by death, until the remarriage of the surviving stepparent.
- Any son-in-law or daughter-in-law of
the parent(s). The relationship of parent and son-in-law or
daughter-in-law exists until the marriage on which the
relationship is based is terminated by divorce or, if the
relationship is terminated by death, until the remarriage of
the surviving son-in-law or daughter-in-law.
- Any statutorily adopted child who was
adopted before the age of 18.
Grandchildren
- Under Proposition 193 the same
relationship requirements for children apply to
grandchildren, step-grandchildren and grandchildren-in-law.
The parents of the grandchild(ren) who would qualify for a
Proposition 58 exclusion from the grandparents must be
deceased.
(Information found at
www.lacountyassessor.com)
Contact your Local Tax Assessor for more
information |
