Q: Prop 13 keeps my dad's taxes low. When he dies, will I be able to keep the lower rate?
A: Then you will file a parent-child exclusion with the county and they will not reassess the proprty taxes. good luck
A: I agree. Also note, often times people make the mistake of a second transfer to a sibling after receiving the property from a parent. They then transfer it to a brother or sister. When this happens Blam! Taxes are reassessed. There is only an exclusion between parent and children and children and parents but not between brother and sisters. So if other brothers and sisters are to receive the property make sure they get their transfer at the same time as you and directly from the parent.
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