California Proposition 19

Prop 19 new tax benefits for homeowners 55+, severely disabled, or victims of wildfire or natural disaster, as of April 1, 2021.

With the passage of Proposition 19, homeowners who are 55+, severely disabled or victims of wildfire or natural disaster may transfer their property tax base of their existing home to a new home anywhere in California. This is a significant improvement from the current law that is confusing, unfair and limiting.

Prop 19 new tax benefits for homeowners 55+, severely disabled, or victims of wildfire or natural disaster, as of April 1, 2021 include:

• Moving anywhere in California: Prop 19 removes location restrictions on property tax transfers allowing the transfer of the property tax base of an existing home to a new home anywhere in California.

• Moving to any home regardless of price: Prop 19 removes price restrictions on property tax transfers allowing the transfer of the property tax base of an existing home to a new home regardless of price (with an adjustment upward to their tax basis if the replacement property is of greater value).

• Transferring the low property tax base of your original home to a new home up to THREE times (or more for victims of wildfire or natural hazard).

This could result in substantial savings in annual property taxes!

These new tax benefits go into effect April 1, 2021.

Download this PDF packet of high-level information provided by California Association of Realtors on Prop 19 for more information.

Proposition 19_ Homeowner tax savings everywhere in the state.

Download • 104KB

The information provided in this blog is intended as general advice and is not intended as a substitute for individual legal advice. This presentation is also not intended to and does not create a standard of care for real estate professionals.