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?
No. When the replacement dwelling is purchased or newly constructed, the Assessor is required 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 Prop 60. (Revenue and Taxation Code Section 75).
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?
- What if the market value of my replacement property actually turns out to be less than the factored Prop. 13 value of my original property?
