On the November ballot, there is a measure called Proposition 19 that may help you pay less property tax if you ever decide to sell your home. If the measure is passed it will:
– allow eligible homeowners to transfer their tax base anywhere within the state and allow tax bases to be transferred to a more expensive home with an upward adjustment
– increase the number of times people 55 years or older or those with severe disabilities can transfer their tax base from one time to three times
– require that inherited homes that are not used as primary residences, such as second homes or rentals, be reassessed at market value when transferred
– allocate additional revenue or net savings resulting from the ballot measure to wildfire agencies and counties
There are many great benefits to this proposition passing. If you have any questions, give us a call! We are excited to see if this measures passes in November!