SF Chronicle: Keeping it in the Family: tax benefit that keeps property inventory low
Nearly 10 percent of all property transfers in California (about 60,000 to 80,000) transfer between parents and children annually without a reassessment to current fair market value. Estimates show that state koffers take a $1.5 billion hit which translates to about 2.5 percent of property tax revenues that are already held artificially low by Proposition 13.
Read more