9
Feb
California Real Estate Propositions 60 & 90 – Reappraisal Exclusion for Seniors
With the first wave of Baby-Boomers reaching retirement age this year, I thought it appropriate to revisit a California law that can save seniors a lot on property tax:
Reappraisal Exclusion for Seniors – Propositions 60 & 90
Disabled property owners or persons over age 55 can sell their home and buy a replacement residence of equal or lesser value and transfer the tax value of the home sold to the new home one time only. The effect of this is to avoid a reappraisal of the value of the new home up to the purchase price. Time limits do apply. Read more 