Property tax rules for inherited property. [Ballot]

Jan 21, 2026 - In the year a new owner takes over a property, its taxable value typically is its purchase price. Each year after that, the property ’s taxable value is adjusted for inflation by up to 2  percent. When a property changes ownership again, its taxable value is reset to its new purchase price.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-035