When my mother passes I want to buy her 4 plex can I keep the same property taxes

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When my mother passes I want to buy her 4 plex can I keep the same property taxes

She has 3 properties to sell I want to buy one. I am the executor of her trust

Asked on May 29, 2017 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

In your state (California), property tax is based on the purchase price at  acquisition (assuming the purchase price is within the realm of potential or reasonable fair market values--i.e. the government does NOT have to accept or believe an unreasonably low purchase price made to lower taxes, especially to family, an heir, etc.). So the property taxes you will have on the property depends on the purchase price. Here is a link to an informative, but somewhat long-winded, governmentwebsite about your state taxes:
http://www.lao.ca.gov/reports/2012/tax/property-tax-primer-112912.aspx


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