Property tax: base year value transfers.

The California Constitution and existing property tax law authorize taxpayers to transfer the base year value, as defined, of property to replacement property, if certain conditions are met, including, among others, that the claimant has not previously been granted, as a claimant, this property tax relief. For purposes of this property tax relief, existing law defines a "claimant" as any person claiming the property tax relief provided by this section, and provides that if a spouse of the claimant is a record owner of the replacement dwelling, the spouse is also considered a claimant for purposes of determining whether in any future claim filed by the spouse the condition of eligibility has been met. This bill would instead provide that a spouse of a claimant who is a record owner of the replacement dwelling shall not be considered a claimant for purposes of determining whether, in any future claim filed by the spouse, the condition of eligibility has been met, and would also make conforming changes to that provision. This bill would provide that this property tax relief shall apply only to persons who file a claim on or after January 1, 2010, and who have not been previously granted this property tax relief, as specified. Existing law provides, in the case where a taxpayer has timely filed and been granted a transfer of base year value of property to replacement property, and new construction is performed upon the replacement dwelling subsequent to the transfer of base year value, that there shall be no reassessment upon completion of the new construction, if the new construction is completed within 2 years of the date of sale of the original property, and the owner notifies the assessor in writing of the completion of the new construction, as specified. This bill would eliminate the requirement that the owner notify the assessor in writing of the completion of the new construction. By changing the manner in which county officials process claims for base year value transfers, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions.