Property tax: base year value transfers.

The California Constitution authorizes the Legislature to provide that a person who is either severely disabled or over the age of 55 years may transfer the base year value, as defined, of property that is eligible for the homeowners' property tax exemption to a replacement dwelling located within the same county as the property from which the base year value is transferred, subject to certain conditions. The California Constitution also provides that the Legislature may authorize each county board of supervisors to allow these base year value transfers from property that is located in a different county. Existing property tax law has implemented these constitutional provisions to authorize these taxpayers to transfer a base year value to comparable replacement property. This bill would make technical, nonsubstantive changes to the statute implementing these constitutional provisions.