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Updated almost 5 years ago,
Transfer from C-Corp to individual name
Hi,
I recently transferred the title of a California property from a C-Corp of which I own 100% of the shares to my and my wife's individual names.
I was advised that the transfer would not trigger a property tax reassessment based on the fact husband and wife are considered an economic unit and the transfer would not be considered a "change in ownership" since 100% of the property ownership would be transferred from me through the C-Corp to me and my wife.
Next thing I know I received a notice of supplemental assessment dating from the title transfer date.
Was I incorrectly advised or should I contact the Assessor's Office to plead my case?
Thank you!