PRELIMINARY CHANGE OF OWNERSHIP REPORT
State law requires the buyer of real property to file a Preliminary Change of Ownership Report with the County Recorder's Office, at the time of recording the purchase. Please reference your Preliminary Change of Ownership Report to determine if additional forms are required to avoid reassessment. If you have any questions about which exclusions apply, please contact our Change of Ownership Department.
If the form is not filed, the Recorder will charge an additional fee of $20. Information which the buyer furnishes on this form assists the Assessor to determine whether there is a change in ownership; and if so, the fair market value of the property. Forms are available by calling or writing the Assessor's Office. Or click here to go to the Forms Section of this web page to view and/or print a form.
CHANGE IN OWNERSHIP STATEMENT
If a Preliminary Change of Ownership Report is not filed with the Recorder, or if it is incomplete, the Assessor mails the buyer a Change in Ownership Statement.
If a person or legal entity, required to file a statement described in Section 480 of the Revenue and Taxation Code, fails to do so within 90 days from the date of a written request by the assessor, a penalty of either:
- one hundred dollars ($100), or
- ten percent (10%) of the taxes applicable to the new base year value reflecting the change in ownership of the real property or manufactured home, whichever is greater, but not to exceed five thousand dollars ($5,000) if the property is eligible for the homeowner's exemption or twenty thousand dollars ($20,000) if the property is not eligible for the homeowner's exemption and the failure to file was not willful. This penalty will be added to the assessment roll, shall be collected like any other delinquent property taxes and will be subject to the standard penalties for nonpayment.
DEATH OF REAL PROPERTY OWNER
When an owner of real property passes away, and the property is going to transfer to the heirs through probate, or through the medium of a trust, the successor trustee or personal representative must notify the Assessor's Office by filing a Death of Real Property Owner- Change in Ownership Statement. This form should be submitted in a timely manner to avoid reassessment. Forms are available by calling or writing the Assessor's Office. Or click here to go the Forms Section of this web page to view and/or print a form.
PARENT-CHILD EXCLUSION (PROPOSITION 58) GRANDPARENT-GRANDCHILD EXCLUSION
The transfer of a principal residence between parents and children, and the transfer of up to one million dollars ($1,000,000) of other real property between parents and children, is excluded from reappraisal under most circumstances. (Some transfers from grandparents to grandchildren may also be excluded from reappraisal. For example, when both parents of the grandchild are deceased.) A Claim for Reassessment Exclusion for Transfer Between Parent and Child must be filed to receive the exclusion. If the exclusion form is filed after the 105 day period has expired the filing fee is $175. Claim forms are available by calling or writing the Assessor's Office. Or, click here to go to the Forms Section of this web page to view and/or print a claim form.
PROPOSITION 60 AND 110 EXCLUSION FOR SENIOR CITIZENS AND DISABLED PERSONS
PROPOSITION 60: If you are selling your principal residence in Monterey County, and buying a replacement residence in Monterey County, you may be eligible for transfer of your former assessed value to your new home under provisions of Proposition 60 or 110.
(Monterey County's participation in PROPOSITION 90 expired January 9, 2001.)
PROPOSITION 60 AND 110: The other main requirements are:
- you or your spouse must be 55 years of age or older (or severely and permanently disabled under provisions of Proposition 110);
- the replacement residence must generally have the same or lower value than the former property;
- the replacement residence must be purchased within two years from the sale of the original residence; and
- both the original and replacement residences must be eligible for a Homeowner's Exemption.
Other requirements may be obtained by calling or writing the Assessor's Office. Or, you may view or print a checklist of the requirements, and the official claim form, by clicking here to go to the Forms Section of this web page.
- Affidavit of Cotenant Residency
- Affidavit of Entity Transfer
- Beneficial Ownership Statement
- Board of Equalization website
Please NOTE the checklists are generalized, not the final word. If you are contemplating replacing your principal residence, and the transfer of your current assessed value is an important consideration in your decision, be sure to discuss the specific circumstances with a member of the Assessor's Office Change in Ownership Section, BEFORE making any commitments.