On November 3, 2020, California voters approved Proposition 19: The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act. More information on how Proposition 19 may impact property transfers can be found with the California State Board of Equalization at https:\\www.boe.ca.gov.
Disclaimer: The information provided is intended to provide general and summary information about Proposition 19. It is not intended to be a legal interpretation or official guidance, or relied upon for any purpose, but is instead a presentation of summary information. Proposition 19 is a constitutional amendment, so additional legislation, regulations, and statewide guidance are expected to clarify its implementation. If there is a conflict between the information provided here and the proposition or any legal authorities implementing or interpreting the proposition, the text of the proposition and the other implementing or interpretive authorities will prevail. Please continue to visit our website or the website of the State Board of Equalization for more information. We encourage you to consult an attorney for advice on your specific situation.
Introduction to Proposition 19 Presentation (as of February 1, 2021).
(This link redirects you to the State Board of Equalization web site)
Current laws allow parents, grandparents, and children to pass on the existing assessed values of their primary residence and other properties up to $1 million in assessed values without reassessment. However, these programs will be limited with fewer tax savings opportunities. See below for the chart developed by the State Board of Equalization to compare the current law and the effects of Proposition 19, pending its enactment.
• Claim for Transfer of Base Year Value to Replacement Primary Residence for Persons at least Age 55 Years
• Certificate of Disability
• Claim for Transfer of Base Year Value to Replacement Primary Residence for Severely Disabled Persons
• Claim for Reassessment Exclusion for Transfer Between Grandparent and Grandchild Occurring On Or After February 16, 2021
• Claim for Reassessment Exclusion for Transfer Between Parent and Child Occurring On Or After February 16, 2021
• Claim for Transfer of Base Year Value to Replacement Primary Residence For Victims of Wildfire Or Other Natural Disaster
• Notice of Rescission of Claim to Transfer Base Year Value To Replacement Dwelling Under Revenue and Taxation Code Section 69.5 (Propositions 60/90/110)
More information on how Proposition 19 may impact property transfers can be found with the California State Board of Equalization at https:\\www.boe.ca.gov.