Cash-out refinance in California - property tax reassessment

[Guillam Landrum]

I've owned a house in Los Angeles since 1995, and thanks to our Prop 13 it has very low property taxes.  I'd like to do a cash-out refinance, but I'm concerned that this will trigger a property tax reassessment.  I imagine in some states it would trigger a reassessment, and maybe in others it wouldn't.  So I'm hoping someone here on BP can give me a California-specific answer to the question.  I would really appreciate any thoughts.  -GL  

[Joe Homs]

@Guillam Landrum not if you do it correctly. If its just a refi going from your name(s) and you mark the right box on the assessors form then you are good. Check with your local assessors office and give them a call. Also, if your lender knows what they are doing they should help you out. You are in jeopardy of re-assessment if it goes into someone elses name or and LLC, etc. Check POCR  This one is for Orange County and the box you should look at is "H."

Good Investing...