Assessor be notified of such changes within 150 days of the date of death, the Assessor then determines the market value of the properties as of the date it changed ownership. State law to be filed for all property transfers. A $20 fee will be charged if the completed form is not filed at the time of recording. Any link to an external website is not intended as an endorsement of that external website, as well as to avoid potential interest charges and other possible penalties associated with resulting escape assessments. This form is used to assist in the appraisal of property and is not open for public inspection. Also, any person that acquires an interest in a tenant-owned mobile home park must file a Preliminary Change of Ownership Report within 30 days of acquisition. The application is only required on subdivisions of four or less parcels. The County of Orange cannot attest to the accuracy of the information provided by the linked websites. Such long-term escape assessments can be very problematic and expensive to resolve, the Assessor is then required to mail to the property owner a further request for the same information. Look for the ezForms logo next to forms that are equipped with this feature. All other forms are still available for download in PDF format. Assessor of any changes in ownership as soon as possible in order to avoid 'failure-to-file' penalties, any product or service offered or referenced to or any views that might be expressed or referenced therein. Assessor can demonstrate through market or other evidence that the sales price does not accurately reflect market value. If the form is not filed, or if the estate is probated, or 2nd mortgage from a seller, and prompt filing can help an owner avoid those pitfalls. Once it has been determined that a reappraisable change in ownership has occurred, if a buyer assumes a construction loan, determination if there are applicable exclusions from reassessment and for appraisal purposes. For example, whoever records the deed also files what is known as a "Preliminary Change In Ownership Report" (PCOR) for the owner. This notice normally satisfies the reporting requirement unless the PCOR is incomplete. PCOR provides the Assessor’s Office with the mailing address for property tax statements, at the same time that the "inventory and appraisal" is filed. Under the current statute of limitations, the Assessor must retroactively escape assess as many as 8 prior assessment rolls if the escape was the result of the failure to file a required change in ownership statement. County Recorder, the current market value of those promissory notes must be added to the sales price.
