There are two new propositions (Prop 60 and 90) in California that will allow those who are 55 years and older to transfer their tax base with them when downsizing their home. There are a few rules that must be followed to be eligible.
– Must be 55 years or older
– Must be purchasing a home within certain counties in California (I list the counties in the video)
– The home being purchased must become your primary residence
– The value of the home being purchased must be equal to or less than the home you are selling
If you have more questions, feel free to give me a call.
Lisa Doyle REALTOR® | DRE# 01149880
The Doyle Team with J. Rockcliff Realtors
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