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 this condition of eligibility has been met. This bill would eliminate the requirement that, if a spouse of the claimant is a record owner of the replacement dwelling, the spouse also 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 applies only to persons who file a claim on or after January 1, 2016, and who have not been previously granted this property tax relief, as specified. Section 2229 of the Revenue and Taxation Code requires the Legislature to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding Section 2229 of the Revenue and Taxation Code, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. This bill would take effect immediately as a tax levy.