04/28/2021
California Proposition 19, the Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment, was approved and came into effect on April 1 2021!
Key points:
* allows eligible homeowners to transfer their tax assessments to be transferred to a more expensive home;
* increases the number of times that persons over 55 years old can transfer their tax assessments from one to three times;
* requires that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred;
For further information concerning the benefits of Proposition 19, contact your tax advisor or give us a call!
805-482-3640
