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Change in Ownership

The Revenue and Taxation Code defines change in ownership as “a transfer of a present interest in real property, including the beneficial use thereof, the value of which is substantially equal to the value of the fee interest”.

However, either by legislation or voter initiative, several types of transfers are excluded from reassessment. Listed below are those most commonly occurring. Please contact the Assessor’s Office for additional information regarding change in ownership.




Leases

The creation of a leasehold interest in taxable real property for a term of less than 35 years (including renewal options), the termination of a leasehold interest in taxable real property which had an original term of less than 35 years (including renewal options), and any transfer of a leasehold interest having a remaining term of less than 35 years (including renewal options) are excluded from change in ownership.



 


Assessor's Office

44 North San Joaquin Street
Second Floor Suite 230
Stockton, CA 95202
Phone: (209) 468-2630
Fax: (209) 468-8383
Office Hours: 8:30 - 4: 30