This is BIG news for homeowners, over age 55 who want to move and take your tax base with you.
Below is a short summary of the benefits of Prop 19.
TAX SAVINGS FOR OLDER HOMEOWNERS
Thanks to Prop 19, seniors, retirees, and all homeowners aged 55+ can move closer to family, medical care, or to a home that better meets their needs anywhere in California without a tax penalty.
Prop 19 removed unfair location and price restrictions, allowing older homeowners to transfer the tax base of their home to a new home.*
SAVINGS FOR HOMEOWNERS WITH SEVERE DISABILITIES
Prop 19 also removed unfair restrictions on Californians with severe disabilities, allowing homeowners to move to a replacement home anywhere in California without
a tax penalty.*
Under Prop 19, homeowners with severe disabilities can transfer the tax base of their existing home to a replacement home up to three times.
HOUSING RELIEF FOR VICTIMS OF WILDFIRE AND NATURAL DISASTER
After wildfires destroyed more than 24,000 family homes in the past few years, wildfire victims have faced massive property tax hikes when relocating to another home.
Prop 19 allows victims of wildfire or natural disaster to transfer theproperty tax base of their damaged house to a replacement home anywhere in California.*
* With an adjustment upward in the tax basis if the replacement property is of greater value.
