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.
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:
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.
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.