Millions of California’s are eligible to take advantage of Prop.19 tax savings – they just don’t realize it. Prop. 19 fully went into effect on April 1, 2021 and provides tax savings for seniors (55+), homeowners with disabilities and wildfire victims. It allows homeowners to transfer the taxable value of their primary residence to a replacement home anywhere in California up to THREE times. The purchase of the replacement property must be made within 2 years of the sale of the original. This property tax portability has been a game changer for many, and maybe for you too! The statement “I can’t afford/don’t want to move because my property taxes will increase so much” may no longer be valid for you. Read more here.
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