You Can Take It With You! Your Property Tax Base and CA Prop 19 Explained
Are you dreaming of moving to Carmel or San Diego or Santa Barbara or Napa Valley or Lake Tahoe but think you can’t afford it because your property taxes will go through the roof?
Well, think again!!
Do you want to be closer to the beach? Or closer to family? Children? Grandchildren?
Now you can move closer to the things you love and still pay the same property tax you pay now.
As of April 1, 2021, if you are 55 years of age or older you can transfer your property tax base from your current house to another house anywhere in California with almost no restrictions.
If the house you live in now is considered your “primary residence” and the house you will purchase is also going to be used as your “primary residence”, you can buy another house regardless of the purchase price. As long as the transfer is completed within two years of the sale of your current home you can transfer your current property tax base to another property with no questions asked. And to sweeten the deal, you can move your current property tax base up to 3 times without penalty or any change in your current rate.
It doesn’t matter how low your current tax base is. You can sell your house and move your current property tax base from here to a home in any city and any county – anywhere your heart desires in the state of California.
If you’d like to learn more about California Proposition 19 (officially the “Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act”) please feel free to call us. We’d love to hear from you. Or you can go to www.BrianAndDan.com, search “Prop 19” to read our blog post. It provides all the information you could possibly need to understand all the details regarding Prop 19, including answers to Frequently Asked Questions.
Oh by the way…please feel welcome to call us with questions. We are available to speak with you on the phone or come take a look at your house in person.
We’re here to help YOU!
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