On Thursday, February 4 at 1:30pm, in partnership with the California Lawyers Association and Board of Equalization Member Malia M. Cohen, Santa Clara County Assessor Larry Stone is hosting a workshop on Proposition 19 to help parents (and grandparents), who plan to leave property to their children, understand how the assessor’s office will implement Proposition 19. The on-line webinar is targeted toward estate and tax attorneys and financial planners. There is no charge to attend.
Participants include Assessor Larry Stone, Board of Equalization Member Malia M. Cohen, Nora Galvez, a member of the Santa Clara County assessor’s senior management team, and one of the State’s leading assessment experts on transfers and Board of Equalization Tax Counsel, Richard Moon. The session will be moderated by Ellen McKissock, co-chair of Hopkins & Carley’s Trust & Estate Litigation Practice and Chair of the Trusts & Estates Section of the California Lawyers Association. Attached are their biographies.
The workshop is being organized to discuss the status of Proposition 19 implementation by assessors and the Board of Equalization, including the status of urgency legislation.
“Many of the provisions of the Proposition 19 are confusing, ambiguous, and conflict with the initial intent,” said Stone. “Proposition 19 was rushed through the Legislature in just six days at the end of the legislative session.”
A special committee of the California Assessors’ Association, led in part by Santa Clara County Assessor’s Office, has been meeting with subject matter experts and attorneys from assessors’ offices and the Board of Equalization. “It’s a mess and an embarrassment that we are trying to sort out,” said Stone.
The workshop will focus on the aspects of Proposition 19 which, on February 16, replaces California’s Parent-Child Exclusion (Proposition 58/193). The changes to the California Constitution significantly narrow what properties can be transferred without reassessment. The initiative also expands benefits for seniors, disabled property owners and victims of disasters to transfer their assessed value to another home in any California county.
Following introductory remarks by Board of Equalization Member Malia M. Cohen, Silicon Valley’s Assessor Larry Stone, will discuss the current status of implementation efforts by assessors, actions by the Board of Equalization, and urgency legislation under consideration. This workshop will focus exclusively on the changes to the parent and child exclusions that must be implemented on February 16. A substantial detailed presentation will be provided by subject matter experts, followed by a robust Q&A session.
During the workshop, Assessor Stone, along with subject matter experts from his office, will address many of the common questions raised by estate professionals about the new law. In addition, they will provide an update on new compliance forms, how Proposition 58/193 will be phased out, what major ambiguous issues have been resolved thus far, and how the assessor may address vague provisions not resolved by the State Legislature.
To register for the workshop, go to https://calawyers.org/event/prop-19-seminar/. Participants are encouraged to submit, non-property specific questions in advance.
The purpose of this webinar is to provide general insights regarding the implementation of Proposition 19. It is not intended to be a legal interpretation or official guidance. Taxpayers are encouraged to consult an attorney for advice.
Shortly following the workshop, the entire webinar and PowerPoint presentations will be made available on the Assessor’s website at www.sccassessor.org.
County Assessor Larry Stone led a webinar for owners of commercial property (land and buildings) on January 21, 2021. Organized in partnership with over 20 business organizations in the County, the presentation explains potential opportunities to reduce 2021-22 property taxes for commercial properties most impacted by Covid-19.
When market value (as of the lien date, January 1, 2021) falls below the existing assessment, the Assessor’s office is required to temporarily reduce the assessed value to reflect the declining market value. Providing relief to commercial property owners is much more complicated than providing relief to single family homeowners, which is the purpose of this workshop.
During the webinar Assessor Stone reviewed Proposition 8, which allows for a temporary reduction, and the information and data his office requires from commercial property owners to efficiently appraise and process proactive reductions for the 2021-22 tax bill, thus avoid costly appeals.
This year we will take informal review requests on our website for commercial properties earlier than usual, beginning on February 1. We will continue to take requests through August 1.
Annual Notification Cards will be sent at the end of June, and final notice of informal review will be sent around August 15.
To learn how to apply on-line for temporary property tax relief, owners of commercial property (or their representative) are encouraged to watch the property tax workshop or visit the Assessor’s Website www.sccassessor.org.
It should be noted that Proposition 8 only allows for temporary reductions on land and buildings. However, tenants, such as hair and nail salons or restaurants, may receiver educations through a property owner in accordance with their lease. The Assessor’s Office is evaluating options for providing property tax relief on equipment and machinery, and may host a separate webinar on this topic in the future.
The webinar is available at https://youtu.be/ZuUMH9ApEb0 and the Powerpoint is below. Also below are answers to questions submitted in advance to the webinar and the announcement of the webinar.
Every year we work to continuously improve the report and if you have suggestions please do not hesitate to let our office know.