Proposition 19 made changes to property tax assessment rules and inheritance provisions in the state.The main provisions of Prop 19 included:Here are some key points to consider before you vote.
1. Help move closer to family – Prop 19 provides housing relief to senior and desired homeowner so they can afford to move closer to family or medical care.
2. Helps for replacement home -It allowed to transfer the tax rate and prop 13 savings from their existing home to replacement home anywhere in California
3. Prop 19 protects family homes and low tax rates – so children can afford to live in the family home without sudden tax increase.
4. Creates more housing opportunities – By providing housing tax relief to seniors help seniors move to retirement communities, condos, smaller homes near families which opens up tons of homes that haven’t been on the market for decades. It creates opportunities for new buyers and sellers.
5. Provides tax relief for Family Farm – Prop -19 provides tax relief for California farms and ranches so they can continue to operate and protect generational farming.
6. Funding for local government and school districts – Prop -19 generates hundred millions in annual revenue for homeless programs, safe drinking water, schools, medical emergencies and wildfire victims.
Are you interested in knowing what your home is worth? Have questions about repairs or renovations to make prior to selling? I’m passionate about our community, our lifestyle, real estate, and the relationships surrounding all of it. Please don’t hesitate to reach out to me at 408 483 0719, if there’s anything I can do for you.