The Prop 19 Estimator provides estimates of both the supplemental assessment(s) and the subsequent regular roll assessment due to a hypothetical transfer of ownership of principal residence from parent to child or grandparent to grandchild. The supplemental assessment applies only if the market value of the property is more than $1 million dollars more than the factored base year value of the property. If so, the market value of the property, less $1 million becomes the new base. The difference between the new base and the former factored base value of the property, prorated from the date of transfer to the end of the fiscal year is captured in a supplemental assessment(s). The new factored base is assessed on the subsequent first fiscal year.
The estimator will not provide calculations for multi-parcel, family farms. This supplemental estimator is unique to Prop 19 transfers of ownership, and will provide different supplemental estimates than the supplemental estimator for transfers not between parent to child or grandparent to grandchild. It is important to select the correct estimator for the type of transfer of ownership in order to get an appropriate estimate.