Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
625.0000 PARENT-CHILD TRANSFER
625.0160 Principal Residence. The transfer of a principal residence is excluded from the definition of change in ownership if the homeowners' or veterans' exemption has been granted on the property but not if the renters' credit has been allowed. However, the property could be excluded if it is part of the transferred property valued at $1,000,000 or less. C 10/10/1987.