CA Proposition 19 Passes – What This Means To You

CA Proposition 19 Passes – What This Means To You –

Seal of California

Are you over 55 and living in a home that doesn’t suit your present day needs but you can’t afford to move because of the increase in your property taxes?

Up until now, if you were over 55 or had a severe disability, you could sell your present home and take  your property base with you – in other words, keep paying the same property taxes – but there were stringent conditions you had to meet. These were defined by Proposition 60 and Proposition 90.

    • You could only do this once.
    • You had to be buying a home of equal or lesser value
    • You could only move to one of a handful of counties in California.

But Proposition 19 was on the ballot this year and it passed!

Now it’s a whole new ball game! The  aim is still to make it possible for people over 55 to move without taking on additional expenses, but there is a lot more too it than that:

  1. You can now move anywhere in California and take your tax base with you.
  2. You are not restricted to moving to a lower priced home, although if you move to a higher priced home, an adjustment will be made in your property tax base related to the higher price of the home you are moving to.
  3. You can now move up to 3 times and take your property tax base with you each time.

With all of California available to you as a potential place to live, your  options are vastly increased. I know many people in our area who have said they would move to Sacramento or even a more rural part of the state but for the additional burden they would have to bear with increased property taxes. Now that burden has been removed.

Are You Thinking About Moving To A New Area?

We know good agents who can help you in many parts of California. If you want to find out more about anything real estate related in another area, just let us know, and we’ll refer you to an experienced agent who can help you.