Importance of filing the Homeowner's Exemption Form

Since Prop 19 came into effect, many clients used to think that submitting only the claim for reassessment exclusion between parent-to-child form (BOE 19-P)  was enough to qualify for the parent-child exemption from property tax reassessment. 

Now, submitting the Homeowner's Exemption BOE-266 form along with BOE19-P is just as important. Submitting these forms to the assessor within one year of your home's transfer or within one year of the parent's death is instrumental in getting the parent-child exclusion. This helps prevent property tax reassessments that can lead to significantly higher taxes than what you or your parents have been paying - depending on when the house was purchased. To help ensure you pay the same property taxes as your parents' house, make sure you submit all required forms within one year and make sure you move into the house within one year from the triggering date. In some cases we have seen that some county Assessors such as the Contra Costa County Assessor confirmed that as long the homeowners exemption form was submitted on time and the person lived or moved into the property within the one year form the transfer or the date of death then the property will be reassessed retroactively from the date of the transfer of the death however the Assessor will credit back the supplemental tax imposed to the property owner. Whether or not this is in fact a legal rule or not has is difficult to know and should be verified by the property owner directly with the Assessor. In general, Assessor Offices are ready and willing to communicate with the property owner and are in general helpful. 

"This post is provided for general informational purposes only and does not constitute legal advice; no attorney-client relationship is formed by reading it, and you should consult a licensed California attorney regarding your specific situation.”