Is not the assessor precluded under Proposition 60 from issuing supplemental assessments when the factored base-year value is transferred from an original property to a replacement dwelling?
A No. When the replacement dwelling is purchased or newly constructed, the assessor is mandated by law to issue supplemental assessments (positive or negative) for all transactions that result in a base-year value change, including those that qualify under Proposition 60. This is accomplished by comparing the factored base-year value of the original property to the factored base-year value of the replacement dwelling property.
Related Questions
- Is not the assessor precluded under Proposition 60 from issuing supplemental assessments when the factored base-year value is transferred from an original property to a replacement dwelling?
- Is the assessor prevented from issuing supplemental assessments when the factored base-year value is transferred from an original property to a replacement dwelling under Prop 60?
- I have just bought a new home and it looks like the Assessor has given it a value that is higher than Proposition 13 allows. What should I do?
