Transfers of property between husband and wife do not cause a reappraisal. This includes transfers due to divorce decrees or a death of a spouse.
The transfer of property between parents and children and some transfers between grandparents and grandchildren may be excluded from reappraisal for property tax purposes. The principal place of residence and up to a maximum of $1,000,000 in assessed value of any other property may be transferred by each parent or child without reappraisal. An exclusion form must be filed timely to qualify.
New construction may be excluded from a supplemental assessment. The property must be for sale and unoccupied, and the builder must file a claim form with the Assessor's office prior to or within 30 days from the start of construction. If the exclusion is granted, the new construction will not be appraised until the following lien date, unless it is sold, rented or occupied before then.
Exclusion for Seniors and Disabled
The replacement property tax relief allows qualifying owners to transfer the assessed value of an original property to a replacement property. Both properties must be located within Butte County.
Qualified owners include:
- Homeowners who are 55 years of age or older and whose replacement residence is of equal or lesser value than their original residence. The replacement residence must be purchased or newly constructed within 2 years before or after the sale of the original dwelling. This is a one-time exclusion.
- Homeowners who are severely and permanently disabled if the disability necessitates a move to the replacement residence.
- Owners of property taken by government action or eminent domain proceedings, if the replacement property is comparable.