Why does the Assessor’s office reassess the property when someone dies?

I receive valuable information from vendors who we work with and the following is from Diana Rafeedie Nofal from North Am Title.  Thanks to Diana.

“Anytime there is a change of ownership of the property, the Assessor’s office reviews the transfer to see if it is a re-appraisable event.  “The Assessor’s Office must be notified upon the death of an owner within 150 days of the date of death, or if the estate is probated at the time the inventory and appraisal is filed. This form is required even if the decedent held the property in a trust.”  I have included the Assessor’s link for the appropriate form and any additional information.  Please note that even if the property is in a Trust, this form must be filed and if the heir(s) are not a spouse or kids, there will be a reassessment.  Also keep in mind that if qualified for exclusion for reassessment, a Claim for Reassessment Exclusion for transfer between Parent and Child must still be filed.”

Posted on January 14, 2019 at 6:28 pm
Ellie Viray | Category: tax assessor | Tagged , ,

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