The factored base year value is the base year value plus up to 2% annual increases for the duration of the property ownership. Under Prop. 19, those inheriting a home are eligible for an exemption ...

If the home’s market value exceeds its tax base value plus $1,022,600, it triggers a reassessment, adding the amount exceeding the value limit to the factored base year value.

Last week’s column explored Proposition 19 and the number of property tax transfer applications approved statewide in the last fiscal year. Voters in 2020 approved Prop. 19, which allows property ...