How does Proposition 19 affect sellers?
It’s a new year, Proposition 19 has officially passed . Sellers are making plans – and for any sellers considering a county change in California this is good to know about!
What is proposition 19?
According to the California Voter Guide, proposition 19 “Allows homeowners who are over 55, disabled, or wildfire/disaster victims to transfer primary residence’s tax base to replacement residence. Changes taxation of family-property transfers and establishes fire protection services fund.”
Click here for the full details on everything that is included in prop 19.
Quick guide on proposition 19:
The CALIFORNIA ASSOCIATION OF REALTORS® has created a Quick Guide about Prop 19 offers a breakdown of the changes on tax portability, the impact on intergenerational transfers to children or grandchildren, when the law goes into effect, and more!
Please don’t hesitate to reach out if this is of interest and you have questions about how Prop 19 can impact you or your family.
2020 did not slow much at the end of the year and 2021 is off to a busy start!
As always, I’m happy to be a resource for those considering a move and to offer advice in the current environment!
- Jackie
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