CALIFORNIA PROP. 13 PROTECTIONS, PROP. 19 STRATEGIES
If you own any real estate in California – residential or otherwise – the property tax caps offered by Proposition 13 can play a dramatic role in your life.
Unfortunately, few California residents realize just how complex and dramatic the role of Prop 13 property reassessments may be.
It’s tragically easy to accidentally trigger a reassessment under Prop 13 that might increase your property taxes five- or ten-fold. It’s also easy to mishandle a transfer of property during your lifetime, or mis-draft a Living Trust in a way that destroys everyone’s rights to a tax cap that avoids taxes of many thousands a year.
To the delight of tax authorities, people make huge California Prop 13 mistakes every day, simply by failing to understand the complexities of the laws, not consulting a qualified attorney, or not proactively claiming reassessment exclusions to which they may be entitled.
The subject can be complex. Even though we deal with Prop 13 issues daily, we must talk constantly with county and state authorities. For example, as of this writing, the 160+ page Assessor’s Handbook “AH401” is being rewritten to account for the latest major shifts.
Contact us today to request a consultation with a lawyer!
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