Proposition 19 amends the California Constitution by adding sections that provide further expansion and qualifications regarding limitations on property tax increases for persons over 55, the severely disabled, victims of wildfires or other natural disasters, and transfers of certain inherited properties.
1. Move Anywhere in the State - The taxable value of a primary residence may be transferred to a replacement primary residence anywhere within the state, as long as it is within two years of the sale of the original primary residence.
2.Purchase a More expensive Home - A home of greater market value may be purchased without incurring a substantial increase in taxable value. The property tax bill would still go up but not by as much as it would for other homebuyers.
3. Increase the Use of the Transfer - Homeowners who are over 55 or severely disabled could transfer the property's taxable value up to three times in their lifetime.
Principle residence to principle residence only.
From the same county to ANYWHERE in the state of California.
From 1 time to 3 times.
First, call Gina at 831-233-2228 for a more simple breakdown of how this can benefit you, today. Then click on the link below to be directed to more legal information provided by the state of California.