Since February 2021, Proposition 19 has limited the old parent-to-child property tax exclusion. A child who inherits a family home can keep part of the parent's low assessed value only when the house becomes the child's principal residence, and only up to a dollar limit — anything above that limit is added to the assessment. The home's fair market value on the transfer date is the figure that decides how much of the exclusion survives.
Why the market value matters
The exclusion compares the property's market value at the time of transfer with the parent's factored base-year value plus an exclusion amount that started at one million dollars and is adjusted for inflation every two years. When the market value exceeds that combined figure, the difference is added to the new assessed value. A well-supported appraisal helps families estimate the result before they decide whether a child will move in, keep the home as a rental, or sell.
Inherited homes and lifetime gifts
Most Prop 19 appraisals are retrospective, fixed to the date of death. Families who are considering a transfer during a parent's lifetime can also order a current value to plan ahead. Either way, the assessor makes the official determination; the appraisal supplies credible evidence of market value and helps your attorney or CPA model the outcome.
Pairing with the step-up appraisal
Because the date of death also sets the heirs' income-tax basis, one retrospective appraisal can usually serve both the Prop 19 analysis and the step-up in basis. Tell us about both uses when you request a quote and the report will be written for each.
Report options
These report types are most often used for this purpose. The quote you receive will confirm which one fits your situation.
Requesting this appraisal
Use the request form to share the property address, the purpose and the effective date you need. You will receive a written quote and delivery date by email — usually within one business day — with no obligation until you approve it.