Inheritance and property taxes

[locolocal]

If you inherit a house and choose to keep it, do the property taxes stay the same or do they increase based on the current value of the house?

 

[davenlei]

If you inherit a house and choose to keep it, do the property taxes stay the same or do they increase based on the current value of the house?

I believe there is some clause that allows a parent to transfer property to a child and not trigger a tax change but I am not sure if that has to be done by the parent while they are still alive or what...  I think the county tax assessor site has the details.

 

[zubs]

living will

 

[kubert13]

Also, correct me if I'm wrong, but I believe that if the property is not in the Will or Trust, the home gets re-assessed and the child or whomever is the next of kin has to pay the difference in property tax. (need someone to confirm this...)

 

[locolocal]

I've heard about people inheriting old beach homes in Newport and only paying a couple of hundred dollars in property tax and was wondering how it worked or if it was just an urban myth.  If I'm reading this right, it looks like you get to keep the old rate if there's only one property and a $1 million exclusion for any other properties that are not the main residence. 
http://www.boe.ca.gov/proptaxes/faqs/propositions58.htmhttp://www.boe.ca.gov/proptaxes/pdf/lta08018.pdf