Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
200.0000 BASE YEAR VALUE TRANSFER
(a) BASE YEAR VALUE TRANSFER – PRINCIPAL RESIDENCE
200.0115 Replacement Property. A dwelling purchased or newly constructed prior to November 6, 1986 does not qualify as a replacement dwelling for purposes of Revenue and Taxation Code section 69.5. If, subsequent to this November 6th date, the owner sells the property and repurchases it a month later, it should still be so considered. The sale and repurchase would appear to be a sham.
There is, however, nothing in the statutes to prevent a person from purchasing one or more replacement dwellings in a series and having any one of them qualify as a replacement dwelling for purposes of section 69.5, provided they are bona fide purchases. C 10/7/1987.