It has been said that only two things in life are guaranteed, death and taxes. We know we can’t avoid the first but we are all up for trying to minimize the second. Proposition 19 is California’s latest effort. If you are over 55, severely disabled, or a victim of wildfire/natural disaster, you may be able to transfer your property tax base from your primary residence to a new home anywhere in California. This can give you great flexibility and mobility while keeping your housing costs and property taxes in check.
The East Bay real estate market is moving fast. If this new opportunity opens you up to selling, give us a call.
Please consult a tax professional for more information.