Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 505.0017

505.0017 Corporate Ownership. Property eligible for the homeowners' exemption becomes ineligible when it is transferred by a husband and wife as joint tenants to a corporation which they own. If their ownership interests remain unchanged after the transfer, Revenue and Taxation Code section 62(a)(2) would exclude the transfer from change in ownership, but that exclusion is separate and apart from exemption considerations and would not enable them to continue receiving the homeowners' exemption. C 12/29/1980.