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Updated over 6 years ago on . Most recent reply

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Susan O.
  • Fresno, CA
181
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Do property taxes get Reassessed in California if changing Title

Susan O.
  • Fresno, CA
Posted

I'm converting all joint tenancy and tenancy in-common ownerships to LLCs Will this make a reassessment in prop tax? How about if I did a DST trust? Do trusts often reassess prop tax if new DST trust holds title?

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Shannon Wright
  • Escrow Officer
  • Temecula, Ca.
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Shannon Wright
  • Escrow Officer
  • Temecula, Ca.
Replied

R&T Codes are Revenue and Taxation Codes and there are a select few that can be used to exempt a transfer from having transfer taxes due (on a deed), which should also exempt the same transfer from triggering a reassessment of the property.  You use an R&T code with the Recorders Office when recording the document and that tells the Tax Collectors office to hopefully leave you alone. :)

Here is a list for LA County but they are pretty much universal and can be used statewide because they are part of the State codes.

https://www.lavote.net/documents/documentary-transfer-tax-statutes.pdf 

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