Transferring your assessed value
The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disaster Act
On November 3, 2020, California voters approved Proposition 19, The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act. Proposition 19 has two basic components:
- One allows homeowners who are 55 years of age or over, disabled, or victims of a wildfire or natural disaster, to transfer their lower assessed property value of their primary home to a newly purchased or newly constructed replacement principal residence up to three times anywhere in the state. More information
- The second imposes new limits on property tax benefits for Intergenerational Family Transfers. A parent may transfer the lower property tax base to their child or children if the property is the principal residence of the parents and the child makes it their principal residence within one year. More information
For more information go to the State Board of Equalization Prop 19 page or read any of their info sheets on this topic.