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Proposition 58 & 193
Parent/Child & Grandparent/Grandchild Exclusions:

 

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.

More information can be found at www.lacountyassessor.com

Contact your Local Tax Assessor for more information

 
Information deemed reliable but not guaranteed.
 

Charlie Dunn
Berkshire Hathaway HomeServices California Properties
11306 183rd Street, Cerritos, CA 90703
Direct Line: 562-430-4007
Make Yours a "DunnDeal" 

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