Stuart A. Bronstein wrote:
- quote -

If you want to research this further, look up the term
"Proposition 58" and look in the CA R&TC somewhere around
section 7700 (I think).

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

- quote -

Although most of the discussion in this newsgroup concerns
income tax, the charter encompasses all kinds of taxes.
There have been discussions about gift and estate taxes,
sales tax, and VAT. The OP asked a question about real
estate tax. That is within the scope of the group.

Moderator:
The severe limitation of being in English is due to the
fact that I speak and read only northern American English
(as spoken in the midwest) and Southern American English
(as spoken in Jaw Ja).

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

- quote -

Mais c'est chouette !

- quote -

And what am I, chopped liver?

Stu

Moderator: And a ~good~ tax attorney <g
<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

David Woods, EA, ChFC, CLU <dwoods[at]woods-financial.com> wrote:
- quote -

I thought this was misc.taxes.moderated, not
misc.income-taxes.moderated.

Moderator, what say you?

Seth

Moderator:
My policy (which is not a precedent) is that if it's
related to taxation of any form, it's written in
English, and it's not nonsense, I post it.

This also reads like a tax planning issue and we rarely
get those until January of the next year. LoL

Property taxes are a big problem in Kal-e-forn-ya.
Katie may know the answer. A CA EA or CPA may know.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

John wrote:

- quote -

Yes, but you have to file the proper application. See below.

- quote -

http://riverside.asrclkrec.com/INassessment.asp#change
http://riverside.asrclkrec.com/forms...02A%20PCOR.pdf

--
Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

"John" <john_tilly[at]hotmail.com> wrote:

- quote -

You're not asking an income tax question. Consult with a
local real estate professional.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

John <john_tilly[at]hotmail.com> wrote:

- quote -

Depends on the value of the house, and if you live in it.
There is a general exemption for transfers between parents
and children, but it's limited to (as I recall) $400,000 for
a primary residence and an additional $1,000,000 for other
property.

Stu

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

All:

I live in Riverside County, California. I want to transfer
my house title to my dad but I don't want to do so if the
house will get reassessed since the value of the house has
doubled since I bought it.

Can this be done without penalty?

Please advise and thanks in advance.

John

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->