Property Tax Savings for Families (Prop 58) 

I wasn't aware there were property's in SF that were under $1 million.

Can this process be done on our own or do we need to seek assistance from real estate professionals??? Thanks

What happened either this. Or the signatures attained?

Does Prop 58 include purchasing a residence from a parent?

I thought each parent could transfer $1 million for a combined $2 million? In that case, the last property in your example would also be excluded from a property tax increase, right?

Unless the transfer reassessment for property outside of the exclusionary amount can be greater than market value, the video math for property 4 is wrong. It should be the (exclusion remaining / current assessed) = % of new assessment. The new assessment is (% of new assess) * (current assessed - exclusion remaining) + (% of new assess) * (market value). The video formula would have new assessed value > market value if difference between current assessed and exclusion remaining is low. Example. If you only have 160k exclusion left, the % of new assessment would be 80% (160/200). 80% of 200k + 80% of 700k = 720k, which is greater than market value. I hope the correct formula is 80% of (200 - 160k) + 80% of 700k = (80% * 40k) + (80% * 700k) = 592k new market value. If not, then it doesn't make sense to transfer property that goes outside of the exclusionary amount and just sell it to your kids to get the assessment at market value.