Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
200.0000 BASE YEAR VALUE TRANSFER
(a) BASE YEAR VALUE TRANSFER – PRINCIPAL RESIDENCE
200.0111 Replacement Property. A person 55 years of age or older who sells a single family property occupied as his/her principal residence may purchase a duplex as a replacement dwelling and have the base year value of the former transferred to his/her portion of the duplex.
In determining whether or not the base year value may be transferred, all of the requirements of Revenue and Taxation Code section 69.5 must be satisfied. The value equivalency requirement is satisfied if the value of the portion of the duplex occupied as a principal residence is equal to or less than the value of the original residence. The remainder of the duplex would be appraised at its full cash value as of the date it sold, and that value would become the new base year value for that portion of the duplex.
The transfer of a base year value from a duplex or other multi-unit structure to a single family dwelling may also occur, provided all of the section 69.5 requirements are met. C 10/10/1988.