Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2012
 

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

Chapter 3. Assessment Generally

Article 2.5. Change in Ownership Reporting*

Section 480.4

480.4. Preliminary change of ownership report forms. (a) The preliminary change of ownership report referred to in Section 480.3 shall give information relative to the transfer. The information shall include, but not be limited to, a description of the property, the parties to the transaction, the date of acquisition, the amount, if any, of the consideration paid for the property, whether paid in money or otherwise, and the terms of the transaction. The preliminary change in ownership report shall not include any question that is not germane to the assessment function.

(b) The State Board of Equalization, after consultation with the California Assessors' Association and interested parties, shall prescribe the preliminary change of ownership report for the purpose of maintaining statewide uniformity in the contents of the report.

History.—Added by Stats. 1990, Ch. 1546, in effect January 1, 1991, operative July 1, 1991. Stats. 1995, Ch. 499, in effect January 1, 1996, operative January 1, 1997, substituted "January" for "March" after "property on" in the first sentence and after "occurs after" in the fifth sentence of the NOTICE: section in subdivision (a). Stats. 2002, Ch. 775 (SB 2092), in effect January 1, 2003, substituted "manufactured home" for "mobilehome" throughout the text. Stats. 2009, Ch. 67 (SB 824), in effect January 1, 2010, substituted "give information relative to the transfer." for "be in substantially the following form:" after "Section 480.3 shall" in the first sentence, added the second and third sentences, and deleted the image of the Preliminary Change of Ownership Report in subdivision (a); substituted ", after consultation with the California Assessors' Association and interested parties, shall prescribe" for "may revise" after "Equalization" and deleted ", as necessary," after "ownership report" in the first sentence of subdivision (b); and deleted subdivision (c), which provided that "This section shall become operative on July 1, 1991."

* Article 2.5 was added by Stats. 1979, Ch. 242, in effect July 10, 1979.

Note.—Section 44 of Stats. 1979, Ch. 242, provided no payment by state to local governments because of this act.