Take the factored base year value of $400,000 plus the difference $177,400 which equals $577,400. This becomes the new taxable value. Here’s another example: ...

Your base year value is $300,000 (the amount you pay your property taxes on) as you’ve been in that home for many years. You are downsizing and buying a home for $700,000.

The amount exceeding the value limit is added to the factored base year value. Here are some examples: At the time of the transfer, a single-family residence has an FBYV or taxable value of ...

Last week’s column explored Proposition 19 and the number of property tax transfer applications approved statewide in the last fiscal year. Voters in 2020 approved Prop. 19, which allows ...

Market value is the price for which a property could be sold today. For example, you bought your home for $500,000 seven years ago, and you can now sell it for $1 million (which is the current market ...