Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
200.0000 BASE YEAR VALUE TRANSFER
(a) BASE YEAR VALUE TRANSFER – PRINCIPAL RESIDENCE
200.0077 Owner. Since a life tenant holds the dominant or primary interest that is substantially equal to the value of the fee interest, an owner of a life estate can be an "owner" for purposes of both the homeowners' exemption under Revenue and Taxation Code section 218. Thus, upon meeting the other requirements of section 69.5, the owner of a life estate may qualify for a base year value transfer. C 12/18/2006.