Changes to Parent-and-Child and Grandparent-to-Grandchild Transfer Exclusions
(Effective February 16, 2021)

Post

Current laws allow parents, grandparents and children to pass on the existing assessed values of their primary residence and other properties up to $1 million in assessed values without reassessment. However, under Proposition 19 these programs will be limited with fewer tax savings opportunities. See below for the chart developed by the State Board of Equalization to compare the current law and the effects of Proposition 19.

Parent-Child & Grandparent-Grandchild Exclusion

  Current Law Proposition 19

Principal Residence
  • Principal residence of transferor
  • No value limit
  • Residence and homesite (excess land may be excluded as “other property”)
  • Principal residence of transferor and transferee
  • Value limit of current taxable value plus $1,000,000 (as annually adjusted)
  • Family homes and farms

Other Real Property
  • Transferor lifetime limit of $1,000,000 of factored base year value
  • Eliminates exclusion for other real property other than the principal residence

Grandparent-Grandchild Middle Generation Limit
  • Parent(s) of grandchild, who qualifies as child(ren) of grandparent, must be deceased on date of transfer
  • No change: parent(s) of grandchild, who qualifies as child(ren) of grandparent, must be deceased on date of transfer

Filing Period
  • File claim within 3 years or before transfer to third party
  • File for homeowners’ exemption within 1 year of transfer

Implementing Statute
  • Revenue & Taxation Code section 63.1 (implements Propositions 58/193)
  • To be determined

Important Dates
  • Through February 15, 2021
  • Effective February 16, 2021

Alert! If you plan to record a deed before Proposition 19 becomes effective on February 16, 2021, please note that February 15, 2021 is President’s Day, a legal holiday, and our Office is closed. We expect a high volume of document submissions during that time, any discrepancies or errors found in the process may require additional time to clarify or correct, which may cause further delay on the recording timeline. Early recording is highly recommended. 

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BOE-19-G Claim for Reassessment Exclusion for Transfer Between Grandparent and Grandchild Occurring on or after Feb. 16, 2021 BOE-19-G Claim for Reassessment Exclusion for Transfer Between Grandparent and Grandchild Occurring on or after Feb. 16, 2021
BOE-19-P Claim for Reassessment Exclusion for Transfer Between Parent and Child Occurring on or after Feb. 16, 2021 BOE-19-P Claim for Reassessment Exclusion for Transfer Between Parent and Child Occurring on or after Feb. 16, 2021