Children can inherit their parent’s property without a property tax increase. The executor of the estate should notify the Assessor’s Office promptly to ensure timely processing of an intergenerational exclusion from reappraisal.
The transfer of real property between parents and children or from grandparents to grandchildren can be excluded from reappraisal for property tax purposes. The principal place of residence and up to a maximum of $1,000,000 in assessed value of any additional property may be transferred without a tax increase. An application must be filed with the Assessor's Office to determine eligibility for this exclusion.
This application may be sent to you because of a change in ownership that may cause a reassessment of your property at current market value. You may qualify for reassessment exclusion if this transfer of property is between parents and children or from grandparents to grandchildren.
This is not an automatic exclusion.