Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > P > 625.0000 PARENT-CHILD TRANSFER > 625.0160

Property Taxes Law Guide – Revision 2017

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P

625.0000 PARENT-CHILD TRANSFER

Annotation 625.0160

625.0160 Principal Residence. The transfer of a principal residence is excluded from the definition of change in ownership if the homeowners' or veterans' exemption has been granted on the property but not if the renters' credit has been allowed. However, the property could be excluded if it is part of the transferred property valued at $1,000,000 or less. C 10/10/1987.