Prop 19 was one of the measures that was recently voted on and it passed! But what does that mean?
1) Anyone over 55 can sell their home and take their tax base with them up to 3 times anywhere in the state of California. Previously it was only allowed one and in some counties.
2) You are not able to buy a higher priced home and pay the additional tax over what you have sold for.
3) When children inherit a home from their parents with that lower tax base, they now have to live in the home in order to retain that lower tax base.
If you have any more questions about Prop 19 give us a call!