Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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B

200.0000 BASE YEAR VALUE TRANSFER

(a) BASE YEAR VALUE TRANSFER – PRINCIPAL RESIDENCE

Annotation 200.0117

200.0117 Replacement Property-Rescission. If the purchase of a replacement property is rescinded, the purchase of a second replacement property can qualify for the transfer of the base year value of the dwelling being replaced as provided in Revenue and Taxation Code section 69.5. The procedure for rescinding the original claim for transfer of base year value in section 69.5(i) must be followed, and the second purchase must be timely, i.e., within two years of the sale of the original property. C 9/20/1994; C 11/6/1997.