CA Homeowners Age 55+ Property Tax Savings (Proposition 13, 60, & 90) Whittier Realtor

Are you 55+ in age and thinking of selling your home to get into something more comfortable for you and your family...?
Proposition 13 - In 1978, Californians passed an annual property tax cap of 2% or the inflation rate of the California Consumer Price Index, whichever is less. The problem with Proposition 13, is that no one wanted to sell and downsize because they would lose their tax basis.
Fast forward, Proposition 60 was later passed and allowed for the transfers of a base year value within the same county. Meaning, you can sell your home and buy in the same county your home was in and you would be able to keep your tax basis.
After Proposition 60, 90 soon followed and allowed for the transfers of a base year value from one participating county to another participating county in California.
Under these propositions, a homeowner that is 55+ in age can sell their home and purchase a replacement property that is "equal or lesser value" than the original property and maintain their tax basis.
For more info, please call/text Remo at 562-762-8581. For a list on participating counties, please comment below and/or call Remo
Keller Williams Pacific Estates #01427142

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