Paramount Property Tax Appeal is reputedly one of the few real estate tax firms in California that provides a large staff of well-known, world-class tax attorneys and complex data systems for proprietary tax reduction solutions and real estate tax appeal programs that enable parents to give their low estimated future worth to their parents Children continue. Even if property is held in an LLC or a trust.
Mr. Nichols sums up: “Well worth repeating – after February 16, 2021, you will no longer be able to carry over your Proposition 13 basis to your children! This year, Californians face unprecedented tax challenges like never before in recent history … in part due to the Covid shutdown and the ensuing economic downturn, which severely hurt property values and estate planning. Families with estate planning needs must realize that they only have weeks before they can take advantage of certain property tax breaks from CA Proposition 13 and Proposition 58 – when Proposition 19 becomes active. This will reduce certain tax breaks that were previously protected by the parent-child exemption, so that homeowners can avoid a reassessment of property tax. “
To receive a free New Year’s assessment for estate planning, trusts, property tax complaints, and tax cuts, property owners can call Paramount headquarters at (858) 225-1200 and have the opportunity to telephone to discuss or review their property tax and / or business tax needs with a property tax specialist .