Age 55+ Homeowner Property Tax Base Transfer - Spidell

Age 55+ Homeowner Property Tax Base Transfer

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Message Board Age 55+ Homeowner Property Tax Base Transfer

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    • #219949
      Anonymous
      Member

      We have  a client who is over 55 and will be transferring their Prop 13 base into a new property.  The replacement property value will be within the required range.

      His question was will he lose the Prop 13 base if he remodels or puts a swimming pool in later down the line.  It seems from my research that if the remodel is such that it will require a reassessment, only the improvements will be reassessed and that the base value of the house will still be subject to just the annual caps on increase.

      Am I reading this correctly?

      Thanks for your time.

    • #220017
      Lynn Freer
      Participant

      That is my understanding

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