Change in Ownership
The transfer of real property interest, and the beneficial use thereof. Change of ownership is a challenging event and when doing so it is very important to make sure the transfer does not create a assessable event. The re-assessment of the base year value will be to the current market value, that is why it is important to do the transfer in a manner that does not cause an increase in your taxes.
The most common mistakes made happen when we fail to use the laws pertaining to the transfers intended. Examples of exclusions are Parent Child, Grandparent Grandchild, Inter-Spousal, and Legal Entity to name a few.
We recommend contacting us first so we can help make sure that you avoid reassessment or increase in property taxes. In the event the County Assessor increase your property tax due to a transfer or a grant deed recording we can consult with you on many different options to reduced the property taxes for life.
For example, when we transfer property between legal entities we must make sure that the people transferring the property are the same people receiving the property when one wants to change the manner in which the property is held. People will transfer property to their trust and include their family members even though they were not part of the original title. Or, they will transfer properties between their legal entities without taking into consideration the members or stockholders of the new company.
Past & Pending Transfers
Here at Paramount Property Tax Appeal we work very closely with our associate attorney who is in the top of his class in the area of property transfers. We communicate with our clients to keep them informed of the necessary documents needed to provide the desired outcome and if after reviewing the documents there is no case for the transfer, we then move to the issue of value assessed at the time of transfer.
For example, the classifications for Change of Ownership appeals are, B1 - No change in ownership occurred on the date of ________________., and B2 - Base year value for the change in ownership established on the date of __________________ is incorrect. This gives us two or more methods in which we can appeal your transfers.
If you have questions concerning your past transfers or pending transfers, feel free to contact us, we are here to help!
“Paramount Property Tax Appeal significantly reduced my tax bill. Their constant communication and expertise made the tax appeal process painless for me.”
– George Mayer, Coastline Equity