SEPTEMBER NEWSLETTER

DIGITAL AGE IS HERE: CHANGE MAILING ADDRESS ELECTRONICALLY

As part of our ongoing commitment to modernization and improved services, we are thrilled to introduce the latest enhancement to our digital offerings: the ability to register a Change of Mailing Address online through our official website, assessor.lacounty.gov.

Effective July 2023, we have implemented a user-friendly online process for submitting the Change of Mailing Address (ASSR-451) form. This means you can now update your information from the comfort of your home or office, eliminating the need for in-person visits or paper forms.

A Change of Mailing Address has been one of the most common requests in the Assessor’s Office, with an average volume of approximately 50,000 to 60,000 requests annually. Up until now, a Change of Mailing Address was a paper-based process that often created long delays in processing.

To participate in the e-form program, property owners should create an online account at the Assessor’s website. This is a one-time requirement and once registered, there will be no need to re-register. The new system allows users to electronically sign and submit forms online 24/7, and attach supporting documents, such as with a trust.

For example, additional documentation is required to change the address for property held in a trust, or if it is in the estate of a deceased individual, an LLC, corporation, or partnership. This additional documentation is required to process the change request. For a list of required documentation, please visit our Change of Mailing Address FAQ and Documentation Requirements Page.

CREATE YOUR PERSONAL E-FILE ACCOUNT

To create your personal e-file account and e-file the Change of Mailing Address form, click here: e-File Instructions Guide.
Property owners can also sign-up for the e-Notification anti-fraud service. Property owners who register their email will receive an alert whenever something is recorded against the property, including a grant deed, transfer of title, mortgage, etc. is recorded on the property with the Los Angeles County Registrar-Recorder/County Clerk. This e-notification allows property owners the ability to quickly identify potential real estate fraud activity, such as a fraudulently recorded deed.

In the future, more than 110 forms from the Assessor’s website will be available in the e-Form program.

TRUSTS: A CAUTIONARY TALE

Trusts can be valuable when it comes to estate planning, but they have a disproportionate tendency to get people in trouble. They are precision instruments and even minor errors can result in a reassessment and a supplemental property tax bill.

Unless certain procedures are followed, a property may be reassessed when changes occur and will receive a supplemental bill.

Common Q&As

There are a number of common mistakes that need to be avoided when dealing with trusts and LLCs, such as:

Q: When a property is held in trust, the property owner dies, and there is a successor trustee – will there be a reassessment?
A: Probably. When there is a new successor trustee on title, it signals that the original owner of the trust has likely passed away and the property has transferred to the beneficiaries named in the trust.

This is called a change in ownership and it subjects the property to reassessment. However, if there is a qualifying relationship between the deceased owner and the beneficiaries – such as, they are parents and children – the property may not need to be reassessed. But proper documentation must be filed with the office.

A Scenario Worth Repeating

Here’s an example:
A parent owns property and transfers it into their revocable living trust. Afterward, they are considered the original trustee of the trust and continue to own the property.

When the parent passes away, their child becomes the successor trustee – the person in charge of the trust – and that child also becomes the owner of the property, as the beneficiary named in the trust.

What to do Next?

So what does the child need to do so the property will not be reassessed?

First, they should report the parent’s death to the Assessor’s Office by completing and submitting a Change in Ownership Statement Death of Real Property Owner form. This indicates a transfer of the property has occurred and should be submitted within 150 days of the death.

Second, if the child wants to prevent the property from being reassessed and retain their parent’s tax base, they will need to:

1.      Move into the property within 1 year of the parent’s death;
2.      File a Homeowner’s Exemption claim form; and
3.      File a Proposition 19 exclusion claim form.

Upon receipt, ownership records will reflect the change and then a determination will be made whether a reassessment of the property is required or not.

MARK YOUR CALENDAR

2023 Annual Report On Its Way

The Assessor’s Annual Report will soon be released. The Annual Report contains a wealth of information and statistics about the Office’s activities over the past year, as well as, valuable insights about the real estate market in Los Angeles County. Importantly, the report provides a city-by-city breakdown of the growth or decline of assessed value for all 88 cities in Los Angeles County. Check the website to view historical Annual Reports.

Strategic Plan Now Public

The Los Angeles County Assessor’s 2023-2028 Strategic Plan has been completed and is ready for implementation. This comprehensive plan represents months of collaborative effort. It reflects a commitment to excellence, innovation, and the unwavering dedication to serving the people of Los Angeles County. It will help chart a course towards greater efficiency, fairness, and transparency in property assessment. Click here to review: https://file.lacounty.gov/SDSInter/lac/1029795_2017_Strategic_Plan_Public_FINAL.pdf