Legal Question in Real Estate Law in California

Re: Property Taxes & Re-Assessment % of Ownership

I am NOT an expert in this matter as I do not practice in the area of wills trusts and estates, but based on a little experience in my own family, the following might be helpful, but check it all out locally to be sure:

When you acquired a 1/2 interest in 2001, that should have triggered a reappraisal and reassessment of the half interest you then acquired. Then, in 2005, when you acquired the second half by inheritance, that half probably should have been reappraised and reassessed. I do not know of any exemption from reappraisal for a gift or an inheritance from an aunt, although it might be worth asking your local assessor if one exists.

In most counties, the heir, executor or successor trustee will be notified by the assessor as soon as they learn about the property owner's death, and they tend to pick up the information from the process of issuing a death certificate in the county. The notification will ask whether the new owner is able to claim some kind of exemption from reassessment.

If you got such a notice and didn't respond, sooner or later the property will be reappraised.

So, you might be liable for some back taxes if the property is reassessed retroactively to 2001 as to one half and to 2005 as to the other half.

Re: Property Taxes & Re-Assessment % of Ownership

The more important issue is what date they are using for the reassessment. Reassessment doesn't necessarily mean that they will even be raising the taxes. The might be adjusting to the 2001 transfer. Feel free to contact my office if you wish to discuss this matter further.