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Is the purchase of an undivided one-half interest in a replacement property for my property taken eligible for tax relief under Proposition 3?

April 26, 2017eligible one-half Property Proposition purchase relief replacement tax undivided

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Is the purchase of an undivided one-half interest in a replacement property for my property taken eligible for tax relief under Proposition 3?

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Yes, the purchase of a partial interest in real property is eligible for property tax relief. However, the purchase of a partial interest in a legal entity that holds real property is not eligible for any relief.