Bypassing Proposition 19 and Property Tax Reassessments
Proposition 19 has significantly altered the landscape of property tax regulations in California, particularly affecting the longstanding parent-child exclusion for property tax reassessment. This legislative change has directly impacted how real estate properties are transferred from parents to children, necessitating creative approaches for families and real estate investors eager to pass down real estate assets to their heirs in a tax efficient manner. To achieve this goal, real estate limited-liability companies (LLC) need to be established and used as a vehicle for property transfers.