PROP 19 and How It Effects You

PROP 19 and How It Effects You

  • Jacobellis Group
  • 04/25/22
If you are one of the tens of thousands of Californians whose family home has been destroyed or substantially damaged by wildfire, here’s some good news.

  • Prop 19 lets you move to a new home without incurring a tax hike. Take Advantage of Prop 19: With Prop 19, you can without hiking your property taxes keep your original Prop 13 tax base when moving to a home of equal or lesser value anywhere in California Secure an adjusted tax rate based on your Prop 13 tax base when moving to a more expensive home anywhere in California Purchase a replacement home in your community.
  • Move to a different neighborhood anywhere in California Transfer your original tax base to a new home up to three times or more “Prop 19 helps those who lose homes in wildfires, so they can replace a damaged home or move to a replacement home without a tax penalty.” — Ellie Rosebush, Paradise Fire Survivor & Association.

If You Are 55+ Years

PROP 19 benefits For All Homeowners Age 55+.

Keep your original Prop 13 tax base when moving to a home of equal or lesser value anywhere in California.

Transfer your original tax base to a new home up to three times If you’re a senior, retiree, or older homeowner who feels trapped in a home that no longer fits your needs, here’s some good news.

Prop 19 makes it easier for you to move to a new home without incurring a property tax hike. Take Advantage of Prop 19: With Prop 19, You Can Without Hiking Your Property Taxes* Secure an adjusted tax rate based on your Prop 13 tax base when moving to a more expensive home anywhere in California.

  • Downsize
  • Move closer to family
  • Live near medical care
  • Find a more affordable neighborhood
  • Relocate to any county you choose

"Prop 19 allows seniors to transfer their home’s low tax base and move near family or medical care, or downsize anywhere in California without a tax increase.” Deborah Howard, CALSAL President, California Senior Advocates League * Purchasing a more expensive replacement property will result in an adjusted tax increase based on your Prop 13 tax basis.

For more information, to see if you qualify or how this may affect you, feel free to call me Amanda Jacobellis COMPASS Agent (310) 497-8385.
 
Please remember I am not a real estate attorney and I always recommend discussing these matters with your attorney, and CPA.

Proposition 19: Homeowner tax savings everywhere in the state. Copyright© 2021 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reproduce and use this material for non-commercial purposes provided credit is given to the C.A.R. Legal Department. Any other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved. The information provided in this presentation 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.

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