CA - LA County - transfer from joint to sole ownership

[bornitz]

Hello,
I owned a house as joint tenants WROS with someone and she transferred her 50% interest into my name via quit claim. I called the county assessor's office and asked them how they would re-assess since I already owned the property with the other person. I was told by 2 different assessors that they would take the new value of the house minus the old and divide it in half and add that to the old amount in order to determine the new taxable value. In other words, they would just re-assess the 50% I had purchased.

So, we originally paid 300k, new value is 600k, the new increase (for tax purposes) is 300k / 2 = 150k which is added to the original 300k for a new assessed value of 450k. LA County tax is approximately 1.25% of that or $5625.

I just received the notice of reassessment and they didn't take into account that I already owned the property and only 50% (from the other person) was transferred. They just reassessed the entire property as if I had no interest in the house from my original purchase in 4/2001!

I clearly put "50% transferred" on the"change of ownership" doc that I filed with the county recorder's office. Obviously, they completely disregared it.

I know that I'll now have to go through the appeals process, but what a bother.

Does anyone have any ideas or suggestions?

Thanks in advance,
Bonnie

[HomeGuru]

Originally Posted by bornitz

Hello,
I owned a house as joint tenants WROS with someone and she transferred her 50% interest into my name via quit claim. I called the county assessor's office and asked them how they would re-assess since I already owned the property with the other person. I was told by 2 different assessors that they would take the new value of the house minus the old and divide it in half and add that to the old amount in order to determine the new taxable value. In other words, they would just re-assess the 50% I had purchased.

So, we originally paid 300k, new value is 600k, the new increase (for tax purposes) is 300k / 2 = 150k which is added to the original 300k for a new assessed value of 450k. LA County tax is approximately 1.25% of that or $5625.

I just received the notice of reassessment and they didn't take into account that I already owned the property and only 50% (from the other person) was transferred. They just reassessed the entire property as if I had no interest in the house from my original purchase in 4/2001!

I clearly put "50% transferred" on the"change of ownership" doc that I filed with the county recorder's office. Obviously, they completely disregared it.

I know that I'll now have to go through the appeals process, but what a bother.

Does anyone have any ideas or suggestions?

Thanks in advance,
Bonnie

**A: I don't.

[bornitz]

Does anyone know what the correct assessment should be? Is it based on the paperwork I received today or what I was told on the phone by the assessor's office?

Thanks again!
Bonnie

[HomeGuru]

Originally Posted by bornitz

Does anyone know what the correct assessment should be? Is it based on the paperwork I received today or what I was told on the phone by the assessor's office?

Thanks again!
Bonnie

**A: this is a legal advice website, not a specific cLA ounty real property tax assessment site.