Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 3 weeks ago

If I inherit a house in California through a living trust, will the low Prop 13 taxes carry over to me?

2 Answers

Relevance
  • 3 weeks ago

    It depends.

    If you personally inherit the house (the house is transferred to your name), then the same tax benefits exist for you as anyone else.  If you are a child or grandchild of the trust owner, then you get the existing property tax assessment.

    - if you aren't a child or grandchild, the house is re-assessed.  You will pay the new property tax amount.

  • 3 weeks ago

    The living trust will essentially be ignored. If you would be entitled to keep the "old" Prop 13 value without the trust you would keep it with the trust.

Still have questions? Get your answers by asking now.