Claim For Reassessment Exclusion For Transfer Between Parent And Child (Before 02-16-21) (Contra Costa) {BOE-58-AH}

BOE-58-AH - CLAIM FOR REASSESSMENT EXCLUSION FOR TRANSFER BETWEEN PARENT AND CHILD. This form is used in Contra Costa County, California, to request a reassessment exclusion when real property is transferred between parents and their children. Normally, when property changes ownership, it is reassessed at current market value, which can significantly increase property taxes. However, under Section 63.1 of the California Revenue and Taxation Code, certain transfers between parents and children may qualify for an exclusion, meaning the property’s assessed value can remain at its original base year value, preventing higher taxes. This form is completed by both the transferor (the parent or child who is selling, gifting, or transferring the property) and the transferee (the parent or child receiving the property). It requires detailed information about the property, the transfer, and the relationship between the parties. Supporting documents, such as wills, trusts, or recorded transfer deeds, may also need to be attached. Both parties must certify under penalty of perjury that the information provided is accurate and that they meet the eligibility requirements for the exclusion. Filing this claim is critical because if it is not submitted on time, the property will be reassessed, and the exclusion may only apply from the year the claim is eventually filed, resulting in higher taxes in the interim. The form clarifies that this exclusion only applies to transfers that occurred between November 6, 1986, and February 15, 2021. For transfers on or after February 16, 2021, a different form (BOE-19-P) must be used. www.FormsWorkflow.com