Property tax rules for inherited property. [Ballot]

Jan 21, 2026 - Each annual property tax bill is equal to the taxable value of the property multiplied by the property tax rate. The typical property tax rate is 1.1  percent. In the year a new owner takes over a property, its taxable value typically is its purchase price.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-035