WHEN IS PROPERTY REAPPRAISED?
Under California Property Tax Laws, real property is valued whenever it changes ownership or is newly constructed, is construction in progress, or each lien date January 1st if under Proposition 8 until restoration of the factored base year value. Personal property, Williamson Act property, possessory interests or Section 11 property is appraised as of each lien date. See "Other Property Assessments".
The El Dorado County Assessor is elected to a 4 year term of office. As an elected department head, the Assessor is required by State Constitution to locate, inventory and value all taxable property in El Dorado County.
CHANGE IN OWNERSHIP:
A change in ownership includes almost all transfers of title in real property. Some changes of ownership that are excluded from reappraisal include the following:
The transfer of property between husband and wife;
The transfer of the principal place of residence between parents and children (and the transfer of up to $1 million of any other real property between parents and children) if an application is filed properly (Proposition 58);
Persons over 55 years of age can buy a residence of equal or lesser value than their existing home and transfer the current tax value to the new home within the county (Proposition 60).
For more information concerning these and other exclusions from reappraisal, see "Exclusions and Exemptions
" or call our office.
The following are some commonly asked questions and answers regarding change in ownership:
Q: If I get married and add my spouse as Joint Tenant on the deed to my property, will my property be reappraised?
A: No. An interspousal transfer does not constitute a reappraisal event.
Q: Can I transfer my property to my brother without its being reappraised?
A: No. This type of transfer would require a reappraisal of the property.
Q: My wife and I want to add our friends as joint tenants on our property. Would this bring about a reappraisal at today's values?
A: No. Adding joint tenants does not result in reappraisal until the original joint tenants no longer have an interest in the property; at this time, the entire property would be reappraised.
Q: I've finally paid off my home loan. Is this a cause for the Assessor to reappraise?
A: No. A deed of reconveyance just officially documents the fact that you paid off your loan.
NOTE: It is advisable to consult an attorney or other expert before changing your present or future ownership of property. The Assessor's Office cannot give legal advice, only explain what transfers shall be reappraised.