CA SB288

Extends the one-year deadline for transferees to claim the family home or farm property tax exclusion when property is transferred due to an eligible transferor's death by probate order, with the deadline starting from the effective date of the probate order rather than the date of death

Applies to parent-child and grandparent-grandchild transfers of principal residences and family farms, which are excluded from reassessment under Proposition 19 rules that took effect February 16, 2021

Removes a previously proposed requirement that transferees notify the county assessor within one year of the transferor's death of their intention to claim the exclusion

Provides that the state will not reimburse local agencies for any property tax revenues lost as a result of this measure

Takes effect immediately as a tax levy upon enactment