sf gate’s pender responds to reader tim zuffi

Property owners save big thanks to propositions

Under Prop. 13, real property in California is reassessed only when it is sold or transferred. Between sales, the assessed value can be raised by no more than 2 percent a year plus the value of improvements.

In the wake of Prop. 13, California voters approved two propositions that exclude from reassessment transfers of certain real property between parents and children and – in limited circumstances – from grandparents to grandchildren. (Transfers between spouses were already exempt from reassessment.)

Read Full Article Here


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s