The concept of property tax portability began here in San Diego. The Proposition 19 ballot initiative, called “The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act,” incorporates allowing homeowners 55 and older the opportunity to transfer their property tax basis up to three times. This added flexibility is supposed to free up housing supply and help seniors downsize to a home that better fits their needs.
Prop 19 is a relatively complex new law and certain provisions have not yet received necessary clarification from the California State Legislature or California Board of Equalization. we are encouraging consumers to obtain professional legal and/or tax advice to help guide your decision on whether to buy, sell, transfer or hold your property as a result of Prop 19.
List of Attached Items
- C.A.R. Quick Guide – Prop 19
- C.A.R. FAQ – Prop 19 Intergenerational Transfers
- Proposition 19 Workshop Presentation – Jesse Lipscomb
- Prop 19 Calculator – Jesse Lipscomb (this is referenced in Jesse’s presentation)
Additional Prop 19 Resources:
- Prop 19 Workshop Presentation Video
- http://media.sdar.com/media/Prop19_Flyer_Consumer.pdf
- http://media.sdar.com/media/Prop19_Flyer_Agents.pdf
- http://media.sdar.com/media/Prop19_Flyer_Brokers.pdf
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