California Real Property Taxation: Strategies & Trap for the Practitioner |
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Audio CDs and Program Materials
Audio CDs and Program Materials are available for $399.00. It is anticipated that alll materials ordered prior to the program will be placed in the mail by Saturday, August 20, 2011, |
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Agenda |
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| Dibby Allan Green, Paralegal Ambrecht & Associates, Santa Barbara |
| A. Overview of California Property Tax Law |
| B. Proposition 13 |
| C. What is Real Property? |
| D. Step Transaction Doctrine |
| E. Practical Tools |
| F. When is Real Property Reassessed? |
| G. Presumptions |
| H. Change in Ownership |
| I. Application of Change in Ownership Test |
| J. Exclusions and Exemptions |
| K. Planning to Trigger Reassessment |
| L. Reversing Unintended Changes in Ownership |
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| II. Assessor's Handbook 401, "Change in Ownership," and Other Board of Equalization Resources |
| Daniel Paul, Tax Counsel, California Board of Equalization |
| A. Available resources online (Publications, Assessor's Handbooks; Letters to
Assessors; Annotations |
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and opinion letters, email lists) of cases); legislation changes over time; rule changes over time; BOE’s role |
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1. BOE Publication 29 CA Property Taxes an Overview – download file online as links to rules and other publications |
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2. LTA 2003/032 - Hierarchy of Property Tax Authorities |
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3. Assessment Appeals Manual
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| B. Weight of authority of Board of Equalization materials |
| C. Review AH 401, "Change in Ownership" |
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| III, Change in Ownership and Control of Legal Entities: Strategies and Fixes |
| Michael LeBeau, Cahill Davis & O'Neall LLP, Los Angeles |
| A. Rev. & Tax. C. §64 and Rule 462.180 overview |
| B. Specific partnership (and LLC) rules |
| C. Transfers to and from a legal entity |
| D. §64(d) cumulative count/original coowners rule up close |
| E. §64(c) change of control rule up close |
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1. Direct and Indirect control of entity |
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2. Strategy to postpose reassessment by use of sprinkling trust |
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3. Best way to hold property to avoid reassessment
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4. Always have legal entity purchase new property (rather than owners purchase and contribute) |
| F. Putting both rules together – scenarios |
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1. Ways to avoid §64(d) – lease exclusion; bad economy - let it trigger; strategy to postpone; sell the property |
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2. Information needed for analysis (e.g., on a death of a trust beneficiary) |
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3. Example scenarios
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4. Preserve §64(c) only status |
| G. Change of entity form – conversions, mergers – carrying out §64(d) original coowner taint |
| H. Reporting requirements and how to report |
| I. Pending Legislation |
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| IV. Fulfilling the Assessor's Responsibilities: Administration and Appraisal |
| Dan Goodwin, Ventura County Assessor |
| A. Reporting requirements for real property transfers |
| B. Confidentiality of Assessor's Records |
| C. Working with the Assessor's office |
| D. Statute of limitations |
| E. Valuation |
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| V. Change in Ownership for Trusts and Estates: Strategies and Fixes |
| Dibby Allan Green |
| A. Genesis of the Post-Proposition 13 Understanding |
| B. Comments on Current AH 401 re Trusts, Chapter 3 |
| C. Brief Review of Trust Change in Ownership Case Law |
| D. Review of BOE Rule 462.160, Change in Ownership--Trusts |
| E. Practical Tools |
| F. Pulling It Altogeher--Example Strategic Plan |
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| VI. Challenging an Assessment: Administrative Options, Appeals and Judicial Proceedings |
| Cris O'Neall, Cahill Davis & O'Neall LLP, Los Angeles |
| A. Overview of various methods to challenge an assessment |
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1. Informal negotiations with Assessor's office, including Prop. 8 request) |
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2. Audit |
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3. Appeal
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4. Claim for refund |
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5. Protecting taxpayers' rights--statute of limitations |
| B. Presumptions and burden of proof |
| C. Resources: County info; BOE Assessment Appeals Manual |
| D. Preserving record for later judicial proceedings |
| E. Preparation of appeal and filing requirements |
| F. Court litigation |
| G. Attorney's fees & costs |
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Registrant Submitted Questions
The speakers will respond to questions submitted in advance of the program. As time permits, they will answer questions from the audience. Please submit your questions to sct@clenet.com no later than August 10, 2011. |
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The Southern California
Tax & Estate Planning Forum
2470 Union Street, San Diego, California 92101-1320
Telephone: 1-800-332-3755. Fax (619) 696-7010
Click here to send us an email |
