I sold my property under eminent domain proceedings, but I was able to lease the property back for one year. When does my four-year period start in finding a replacement property?
For property acquired by a public entity by purchase or exchange, your request for the base year transfer shall be deemed timely if made within four years of the date the condemnation is recorded or the date the taxpayer vacates the replaced property, whichever is later. In your case, the four-year statutory filing period will begin the date you vacate the premises at the end of your one-year lease of the property. • Do I need to provide the county assessor with documentation that my property qualifies? Yes. The applicant must provide proof of actual displacement. A copy of any one of the following documents will be considered by the assessor as such proof: • A certified recorded copy of the final order of condemnation, or, if a final order has not been issued, a certified recorded copy of the order for possession showing the effective date that the acquiring entity is authorized to take possession of the property taken. • A copy of the recorded deed showing acquisition by the public e
Related Questions
- If a property is sold after its tax exclusion period begins, should current year taxes be prorated privately between the buyer and seller (i.e. at the closing of the property transfer)?
- I sold my property under eminent domain proceedings, but I was able to lease the property back for one year. When does my four-year period start in finding a replacement property?
- Can property be sold after non-payment of taxes for one year? Why?
