Prop 19 removed unfair location and price restrictions, assisting homeowners who are 55 or older, severely disabled, or victims of California wildfires and making them eligible for property tax savings. Prop 19’s property tax base transfers go into effect April 1.
With the passage of Proposition 19, eligible homeowners can now:
- Purchase a new home and transfer their home’s low Proposition 13 property tax base to another home anywhere in California up to three times and realize significant property tax savings.
- Transfer their home’s tax base to another home -- even if the sales price of the new home is priced higher than their existing home (with an upward adjustment in the tax basis if the replacement principal residence is of greater value).
Learn more at the California Association of REALTORS® Prop 19 website.