The Property Transfer Affidavit must be filed within 45 days with the Assessor's Office whenever a transfer of ownership occurs. This form is reviewed by our staff to determine whether a property is to have its taxable value "capped" or "uncapped."
Proposal A, passed by the voters on March 15, 1994, places a limit on the value used to compute property taxes. Starting in 1995, property taxes were calculated on taxable value. Prior to 1995, taxes were calculated on state equalized value.
If there was a transfer of ownership on your property in last year, your taxable value this year will be the same as your new state equalized value.
If there was not a transfer of ownership on your property last year, your taxable value this year is calculated by multiplying the last years taxable value by the consumer price index for the current year.
Physical changes in your property may also increase or decrease your taxable value. Your taxable value cannot be higher than your state equalized value.