Prop 19 Tax Savings for Seniors
Proposition 19 offers financial freedom to seniors looking to move
Proposition 19 offers financial freedom to seniors looking to move
Prop 19 is an update on older props 13, 60 and 90 which made home affordability and mobility more accessible for seniors 55+ years of age.
Prop 19 allows owner age 55+ to sell their current home and purchase another home while keeping their tax base.
For example: If your home has a tax base of $450,000 but sells for $1,000,000... you can buy another $1,000,000 home and be taxed as if it was $450,000.
This applies to ANY county in California. So you could sell in Orange County or Sacramento County and purchase in LA or Riverside.
For more information, check out our blog post about it. Click here to read.
How do I claim these tax savings?
The forms are filed with your county tax assessor. Find your assessor's info at this link.