Property Appraisal. Exception. Grandparent-Grandchild Transfer. Legistlative Constitutional Amendment

• Amends State Constitution by not requiring new appraisal of real property upon purchase or transfer between grandparents and their grandchild, subject to certain conditions.
• Parents of grandchild must be deceased as of date of purchase or transfer.
• Purchase or transfer of principal residence does not qualify if grandchild alr eady received a principal residence through previous purchase or transfer not re quiring a new appraisal.
• $1,000,000 limit on purchases or transfers of real property not requiring new appraisals, includes purchases or transfers between grandparents and grandchild, as well as between parents and children.

• Property tax revenue losses to schools, counties, cities, and special districts of about $1 million annually.
• School revenue losses would be made up by the state General Fund.

        Assembly: Ayes 59       Senate: Ayes 32 
                  Noes 18               Noes 1

Analysis by the Legislative Analyst
Argument in Favor of Proposition 193
Rebuttal to Argument in Favor of Proposition 193
Rebuttal to Argument in Favor of Proposition 193
Argument Against Proposition 193
Rebuttal to Argument Against Proposition 193