Prop 19

Navigating Proposition 19:  A consideration for property transfers in California for individuals who are 55 years or older, severely disabled, or whose homes were destroyed by wildfire or natural disaster, may transfer the taxable value of their primary residence to a replacement primary residence……

• Anywhere in the state
• Regardless of the location
• Regardless Of the value of the replacement residence – even if it’s greater in value (with an upward adjustment in the tax basis if the replacement property is greater in value)
• Within 2 years of the sale of the original primary residence
• Up to 3 times (or once per disaster)

What can you do with Prop 19?

Without hiking your property tax, you can do the following…

• Downsize
• Move closer to family
• Live near medical care
• Find a more affordable neighborhood
• Relocate to any county in California
• Purchase a new or newer home with less maintenance

Our team is well-versed in this newer landscape, providing valuable insights to maximize benefits under Proposition 19.

* Purchasing a more expensive replacement property will result in an adjusted tax increase.  Please visit the assessors office for complete details and application.  Assessor – Proposition 19 (lacounty.gov)

* Real estate agents do not provide legal or tax advice.  You should consult with your legal and tax advisors, and other professionals to confirm any limitations or benefits of buying or holding real property in the United States