What Senior Homeowners Should Know About Prop. 19

Homeowners 55 years of age or older can benefit from Proposition 19 which went into effect on April 1, 2021, having been passed by California voters in November 2020.

Proposition 19 allows senior homeowners to keep their Proposition 13 tax base on their primary residence when moving to a home of equal or lesser value anywhere in California.

Purchasing a more expensive replacement property will result in an adjusted tax increase based on the homeowners Proposition 13 tax basis.

Homeowners can transfer their original tax base to a new home up to three times.

The benefits of Proposition 19 are also extended to homeowners who are severely disabled as well as victims of wildfire and natural disaster.

Source: California Association of Realtors

The information provided is intended to provide general information and not a substitute for individual legal advice. All persons are directed to seek the advice of an attorney regarding their specific tax and legal situation.