Not sure if LLCs can have a Homestead Exemption so once you move out property tax might be reassessed.Help us to #FiXProp19 by #RepealTheDeathTax.

On that form, one can indicate that the controlling interest does not change in the truansfer and it is done for estate planning/asset protection purposes, thus, exempting it from reassessment. 

Proposition 19 $1million exemption is owner to owner and that claim needs to be within a year which is ridiculous.  

The portion your parents lived in transfered to you if you live in may have a pro-rated exemption. 

Even with $1million exemption... 

A homeowner/occupant gets a homestead exemption, with a yearly cap of a 3% increase in assessed value.

People who thought they could stay in the home kight not be able to even with the $1million exemption. 

In other words, the house your father lived in can be occupied (within 1 year) by you or your brothers, and turned into their family home (taking the homeowner's exemption) and they can transfer the base tax value of that house to whomever occupies the house.

Everyone talks about the $1million exemption. 

However familial transfers other than parents to children and grandparents to grandchildren are not exempt from reassessment (and further limited by Proposition 19).Assessor will review trusts.