Property Taken By Eminent Domain Prop 3 Information
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Property Taken By Eminent Domain Prop 3 Information
State law allows a property owner to transfer their Proposition 13 base-year value to a comparable replacement property when the original property is acquired by a governmental agency through eminent domain, purchase, or inverse condemnation. The program can result in significant property tax savings when the owner purchases the replacement property.
When passed, Proposition 3 altered the “change in ownership” provisions of the California Constitution. Specifically, Proposition 3 changed the rules governing the reappraisal of replacement property for an owner who was displaced from his or her original property as a result of:
- An eminent domain seizure of the original property
- Purchase of the original property by a public entity
- Action taken by a government agency which resulted in inverse condemnation.
Under these circumstances, according to Proposition 3, the acquisition of replacement property by the person whose original property was taken by or sold to the government is not considered a “change in ownership for property tax reappraisal purposes,” as long as the replacement property is comparable to the property from which the person was displaced.
Proposition 3 (Eminent Domain) FAQs
