Marino Real Estate
HOME
SELLERS
  • Market Report (Sample)
  • Loan Resources
  • Proposition 19
  • School Finder
  • School Ratings
BUYERS
  • Loan Resources
  • Homebuying Tips
  • School Finder
  • School Ratings
  • School Reviews
  • LAUSD
NEWS & TIPS
  • Local Real Estate News
  • Celebrity Activity
  • Home Projects
  • MRE Videos
Contact
Marino Real Estate
HOME
SELLERS
  • Market Report (Sample)
  • Loan Resources
  • Proposition 19
  • School Finder
  • School Ratings
BUYERS
  • Loan Resources
  • Homebuying Tips
  • School Finder
  • School Ratings
  • School Reviews
  • LAUSD
NEWS & TIPS
  • Local Real Estate News
  • Celebrity Activity
  • Home Projects
  • MRE Videos
Contact
More
  • HOME
  • SELLERS
    • Market Report (Sample)
    • Loan Resources
    • Proposition 19
    • School Finder
    • School Ratings
  • BUYERS
    • Loan Resources
    • Homebuying Tips
    • School Finder
    • School Ratings
    • School Reviews
    • LAUSD
  • NEWS & TIPS
    • Local Real Estate News
    • Celebrity Activity
    • Home Projects
    • MRE Videos
  • Contact
  • Sign In
  • Create Account

  • My Account
  • Signed in as:

  • filler@godaddy.com


  • My Account
  • Sign out

Signed in as:

filler@godaddy.com

  • HOME
  • SELLERS
    • Market Report (Sample)
    • Loan Resources
    • Proposition 19
    • School Finder
    • School Ratings
  • BUYERS
    • Loan Resources
    • Homebuying Tips
    • School Finder
    • School Ratings
    • School Reviews
    • LAUSD
  • NEWS & TIPS
    • Local Real Estate News
    • Celebrity Activity
    • Home Projects
    • MRE Videos
  • Contact

Account


  • My Account
  • Sign out


  • Sign In
  • My Account

Proposition 19 & Selling Your Home

For Property Owners 55 and Over

Proposition 19 was approved by California voters during the November 3, 2020 election, and makes significant changes to provisions regarding property tax rules. Some of these changes have already gone into effect and others will go into effect April 1st. 


Seniors & Disabled
Proposition 19 will allow those over the age of 55, the severely disabled, and victims of a natural disaster, such as a fire, flood or earthquake, to transfer their current property assessment and the property tax basis when they sell their home and buy a new one. Eligible homeowners can now purchase a new home of any value anywhere in the state and take their lower property tax basis with them. Further, it allows them to transfer their tax basis up to three times. For many seniors who were reluctant about selling your home and risk higher property taxes, Prop. 19 will provide an opportunity to upgrade or downsize in the California community of choice.


Inheritance of Family Property
If you are to inherit a family property from your parents, Prop. 19 limits some tax benefits that previously existed. Under the previous law, parents could pass-down a family property to their children and the assessed value for property tax purposes would remain unchanged. This translated to valuable property tax savings for many working and middle-income families. 


Now, only a parent’s principal residence may be transferred to their children, and that home must then become the child’s principal residence within one-year of the transfer. If these conditions are not met, the home will be reassessed to market value and the property taxes may  increase. 


Have questions about Prop. 19?
Check out the FAQs link to the LA County Assessor's office at the top of this page for recent informational webinar, factsheets, and more. 

Find out more

Copyright © 2023 Marino Real Estate - All Rights Reserved.

Powered by GoDaddy Website Builder

  • HOME
  • Contact