Keeping It REAL - by Bettsy Tyler

Proposition 19: Passed November 2020 What it Means for Homeowner Tax Savings Now Everywhere in the State   It once was that if you were over 55 and wanted to keep your property tax base of your primary residence, you would have to move to a lesser valued home than the one you were selling and stay in the same county – or move to Alameda, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Mateo, Santa Clara, Tuolumne, or Ventura county. With the passage of prop 19, now you can move to anywhere in the state and keep your tax base. And it doesn’t have to be a cheaper home than what you sell. There are details, of course, that one must follow and abide by to take advantage of this, but it’s much easier now to downsize or retire or simply move to a new place, and keep your 30 year old tax base.    Prop 19 Overview    Homeowners who are 55 or over, severely disabled, or whose homes were destroyed by wildfire or natural disaster, may transfer the taxab...