Image of the Grand Canyon State Ship located in Alameda.
Change in Ownership Reappraisal
The Assessor receives copies of deeds and other recorded documents from the Clerk- Recorder’s Office on a continuous basis. These documents are reviewed carefully to determine if a reappraisal is required under State law. If it is required, an appraisal is made to determine the fair market value of the property as of the date of transfer.
Examples of change in ownership which may require reappraisal:
- The sale/purchase of property
- The transfer of property due to the death of the property owner, gift or inheritance
- The transfer of the beneficial use of the property equivalent to the value of the fee interest, such as a new lease for a 35 year term or longer
Only that portion of the property that changes ownership, however, is subject to reappraisal. For example, if 25% of the property is transferred, the Assessor will reassess only 25% of the property at its current fair market value as of the date of the transfer, and the remaining 75% will retain its previously established Proposition 13 base year value.
The State Board of Equalization provides additional information about Change in Ownership reappraisals and Frequently Asked Questions. Click here to visit their website.
Exclusions to Change in Ownership Reassessment
While a transfer of real property may constitute a change in ownership, the legislature has created a number of exclusions so that some types of transfers are excluded, by law, from the definition of change in ownership. Click here for more information about exclusions.
Preliminary Change of Ownership Report (PCOR)- Form BOE 502-A
State law requires the property owner of real property to file a Preliminary Change of Ownership Report with the County Clerk- Recorder’s office when recording certain documents. The PCOR is forwarded to the Assessor’s Office with the recorded instrument. It is important to answer all questions on the PCOR completely. This information assists the Assessor in determining whether there is a change in ownership; and if so, the fair market value of the property. Click here or go to Forms to view and/or print a PCOR form. The PCOR is not open to public inspection. For further information, call (510) 272-3787.
Change In Ownership Statement (COS) – Form BOE 502-AH
If a Preliminary Change of Ownership Report is not filed with the Clerk-Recorder, or if it is incomplete, the Assessor will mail a Change in Ownership Statement to the address specified on the recorded document.
Section 480 of the Revenue and Taxation Code requires a transferee receiving an interest in real property, whether recorded or not, including manufactured homes subject to local assessment, to file a Change in Ownership Statement. Failure to do so within 90 days from the date of a written request by the assessor will result in a penalty assessment. (An exception to the 90 day filing requirement applies when the property owner has died. See paragraph below). Click here or go to Forms to view and/or print a COS form. The COS is not open to public inspection. For further information, call (510) 272-3787.
Death of Real Property Owner – Form BOE 502-D
If you are authorized to act on behalf of an estate, you should file a Change in Ownership Statement Death of Real Property Owner with a copy of the death certificate with the Assessor’s Office within 150 days of the date of death. If the estate is probated, the statement should be completed and returned to the Assessor when the inventory and appraisal is filed with the court. Click here or go to Forms to view and/or print a COS form. The COS is not open to public inspection. For further information, call (510) 272-3800.