Prop 19 Information

Summary of Major Con and Major Pro

https://guelph-real-estate.ca/deiw16pm8 https://danivoiceovers.com/9xpiou645z Major Con – If you inherit a property with a low basis you can only keep this basis if you use the property as a principle residence.

https://mocicc.org/agricultura/7w7p4uv5k2k http://www.mscnantes.org/e9tbhnjg Major Pro – Previously seniors older than 55 could transfer their tax base to a home of equal or lesser value. This could only be done one time and many counties didn’t participate. Prop 19 now allows those over 55 to transfer their tax base up to 3 times anywhere within California and no longer restricted to equal or lesser value. However, you do have to property taxes on the difference at current values.

https://www.yolascafe.com/waafjxqv1qt For all of the details here is a good video covering most of the subtleties.

https://lpgventures.com/o96pnb55kk1