Bill > SB293

This bill amends California property tax law to modify the timing and conditions for filing claims related to property transfers between family members. Specifically, the bill allows property tax exclusion claims to be filed within three years after the mailing of a supplemental or escape assessment in certain emergency situations, such as when a property is damaged in an area proclaimed to be in a state of emergency. Under current law, these claims typically had to be filed within six months of an assessment notice. The bill also clarifies provisions related to transfers between parents and children, grandparents and grandchildren, and family homes and farms. For example, it specifies that a transferred property must become the principal residence of the transferee within one year and that the transferee must file for a homeowners' or disabled veterans' exemption within that same timeframe. If the transferee no longer qualifies for these exemptions, the property's base year value will be adjusted accordingly. The bill aims to provide more flexibility for property transfers during emergencies and to standardize the process for family property transfers, while maintaining protections to ensure proper assessment and taxation.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB293