Understanding Proposition 19
On or after April 1, 2021, California homeowners can realize significant annual property tax savings under Proposition 19. It removes location and price restrictions to allow homeowners who are 55 or older, severely disabled, or victims of wildfires or natural disasters to:
What Qualifies?
1. Purchase a replacement home anywhere in California and transfer the taxable value of their current home, allowing them to realize significant annual property tax savings.
2. Move closer to family or medical care, purchase a home that better meets their
needs, replace a fire-damaged home, or retire or relocate anywhere in the state without a tax increase.
3. Save substantially in annual property taxes when moving to a replacement home, even if the replacement home is more expensive than the original primary residence (with an adjustment upward to their tax basis if the replacement property is of greater value).
4. Transfer the low property tax base of their original home to a new home up to three times.
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