03 – SCA 5 – Co-owners Exemption from Property Tax Reassessment

Authorize the board of supervisors of a county to adopt an ordinance to exclude, from classification as a “purchase” or “change in ownership,” the transfer of an ownership interest in a principal residence located within that county between co-owners of that residence, if those parties co-owned and continuously resided in the residence for a period of 3 years immediately preceding the transfer and the transfer occurs on or after January 1, 2005, by reason of the death of the transferor.