Bill > SB288

This bill clarifies existing property tax law regarding the transfer of family homes and farms between parents and children, or grandparents and grandchildren when parents are deceased, to prevent reassessment of property value. Specifically, it adjusts the one-year deadlines for the transferee to occupy the property and file for exemptions, deeming these periods to begin from the effective date of a court order in cases of death, and requires the transferee to notify the county assessor of their intent to claim this exclusion. The bill also states that the state will not reimburse local agencies for any property tax revenue lost due to these provisions and takes effect immediately as a tax levy.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB288