Assessor-County Clerk-Recorder

1. Assessor-County Clerk-Recorder Larry W. Ward Assessor-County Clerk-Recorder

2. Assessor-County Clerk-Recorder • Assessor-Determines taxable value for all property located within the County. • County Clerk -Handles marriage license applications, marriage ceremonies, Fictitious Business Name filings and various other items mandated by law or ordinance. • Recorder-Records documents connected with property transfers and other negotiated items, and provides permanent storage and certification of all births, deaths and marriages within the County.

3. Property Tax Revenue Riverside County Assessed Value Median Home Price

4. Allocation of Property Tax Revenue Education 45.88% Redevelopment 28.76% Cities 5.78% County 11.69% Special Districts 7.89%

5. Prop 13 and Prop 8 • Limits the increase of assessed value to 2% per year (except for properties under Prop 8) • Protects taxpayers when property values are dramatically increasing Prop 13 Prop 8 • Assessor must enroll the lower of the Prop 13 value or market value as of lien date (January 1) for each year • Protects taxpayers by providing a temporary reduction in value if property values decline

6. Decline-in-Value (Prop 8) • The Assessor determines value as of lien date (January 1). • Over 420,000 assessments will be reviewed for Prop. 8 reductions for FY 2011-2012. Accepted Claim

7. Prop 8 Information

8. Assessor-County Clerk-Recorder PCOR and Documentary Transfer Tax (DTT) Danielle Rifilato Research & Policy Analyst

9. Statewide Electronic Recording

11. Preliminary Change of Ownership Report (PCOR) • The Preliminary Change of Ownership Report shall give information relative to the transfer. The information shall include, but are not limited to: • A description of the property • The parties to the transaction • The date of acquisition • The amount, if any, of the consideration paid for the property, whether paid in money or otherwise • The terms of the transaction

12. Documentary Transfer Tax Affidavit • A Documentary Transfer Tax Affidavit (DTT Affidavit) is required to be completed and submitted with each document when Documentary Transfer Tax is being paid or when an exemption is being claimed from paying the tax.

14. Documentary Transfer Tax (DTT) Affidavit • The Documentary Transfer Tax Affidavit shall include, but not be limited to: • Assessor’s Parcel Number • Property Address • Amount of DTT due • Day, month, year, city, and state for penalty of perjury information • Signature of Affiant (must be original signature) • Name of Firm • Address of Affiant (including city, state, and zip code) • Telephone Number (including area code) • If transaction is exempt from the payment of DTT, one of items 1-11 must be marked • Please remember: • If number 11 is selected, the reason for exemption must be set out. A code section alone is not sufficient. • The information on the DTT Affidavit should be consistent with the information on the document and the Preliminary Change of Ownership Report. • Only the person that signed the DTT Affidavit may make corrections to the form. We require the changes to be initialed.

15. New Legislation • SB 507–Change in Ownership Statement • AB 1321 –Mortgage Electronic Registration System (MERS) Bill • AB 1090–Senior Citizens Property Tax Deferment Bill

16. Contact Us Assessor: 951-955-6200 (7:30am-5:30pm)/ 800-746-1544 Clerk-Recorder: 951-486-7000 Danielle Rifilato:951-486-7030 ACR Website:riversideacr.com Property Tax Portal: riversidetaxinfo.com

17. Questions?