FAQs • Placer County, CA • CivicEngage

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Assessor - Prop 58: Parent-Child Exclusion

1. How will Proposition 19 affect the Parent-Child Exclusion?: Proposition 19, The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act, was passed by California voters on November 3, 2020. The provisions of Proposition 19 that relate to the Parent-Child Exclusion become operative on February 16, 2021. Please visit the State Board of Equalization’s website at https://boe.ca.gov/prop19/ for the latest information available on Proposition 19 and how it will affect the Parent-Child Exclusion.

2. Does the first $1,000,000 in value represent the current market value, or the assessed value?: The value used is the Proposition 13 value (also called factored-base-year value) immediately prior to the transfer date. Basically, this would be the taxable value on the assessment roll.

3. How many parent-child transfers of a principal residence may qualify under Proposition 58?: There is no limit. However, each transferred residence must qualify as a principal residence.

Any child born to the parent; or
Any stepchild or stepchild's spouse while the relationship of stepparent and stepchild exists; or
Any son/daughter-in-law of the parent; or
Any child statutorily adopted before the age of 18.

5. What is the effective date of Proposition 58?: Proposition 58 applies to any transfer of real property between parent and child on or after November 6, 1986, and to transfers between spouses on or after March 1, 1975.

Transfers between parent and child of the principal residence; and/or
Transfers between parent and child of the first $1,000,000 in value of other real property.

7. Who are the transferor and transferee?: The transferor is the current owner of property being transferred. The new owner is the transferee.