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Property Tax Planning: Essential Strategies For Real Estate Owners

When exploring tax planning strategies for your estate, it’s important not to overlook property taxes. Transfers of real estate – including through inheritance – trigger property tax reassessments under California law. That can mean an increased financial burden for your loved ones. However, there are ways to avoid reassessment through careful planning and foresight.

 At the Law Offices of Berge & Berge in San Jose, we believe that effective property tax planning is a crucial part of estate and tax planning. Our goal is to help you avoid property tax hikes so you can preserve your financial legacy. Led by an attorney with an advanced degree in tax law as well as board certification in estate planning, trust and probate law through the California Board of Legal Specialization, our team can empower you to take a proactive stance on property tax planning.

Strategies To Mitigate Property Tax Increases

In California, changes in property ownership – including sales, gifts and inheritances – can trigger a reassessment of property value, potentially increasing the tax obligations. However, certain transfers are exempt from reassessments, including:

  • Interspousal transfers
  • Parent-child transfers
  • Transfers to a trust
  • Transfers of co-tenancies (when one co-tenant dies)
  • Transfers to business entities (in some situations)

Our lawyers understand property tax law, and they can help you navigate these rules to avoid unnecessary property tax burdens. They are committed to helping you leverage every available benefit.

Protect Your Real Estate Today

Learn more about how to protect your hard-earned real estate from rising property taxes upon transfer. Contact our team online or by phone at 669-244-3546 to start discussing your options. We provide comprehensive estate planning services for clients throughout the South Bay area.

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