"Prop 19 vs. Props 60 and 90: What You Need to Know About Property Tax Transfers in California"

If you're a property owner in California, it's important to understand the differences between California Prop 19 and Props 60 and 90 when it comes to property tax transfers.

These propositions allow property owners to transfer their tax basis to a new home without being subject to higher property taxes, but the eligibility requirements and scope of the transfers differ.

Props 60 and 90 were created to help older homeowners transfer their tax basis to a new home of equal or lesser value within the same county or a county that accepts these transfers.

This allows homeowners over 55 to keep the same tax basis and save money on property taxes. However, these props have limitations, such as restrictions on the scope of the transfer.

On the other hand, Prop 19 expands the eligibility for property tax transfers to homeowners over 55, disabled individuals, and victims of natural disasters.

This proposition allows homeowners to transfer their tax basis to a new home of any value within the state, up to three times.

However, it also has limitations when it comes to property transfers between parents and children.

The main difference between Prop 19 and Props 60 and 90 is the eligibility requirements and the scope of the tax transfers.

While Props 60 and 90 are limited to older homeowners who want to transfer their tax basis to a new home of equal or lesser value within the same county or a county that accepts these transfers, Prop 19 expands the eligibility and allows property owners to transfer their tax basis to a new home of any value within the state, up to three times.

In conclusion, it's important for property owners in California to understand the differences between Prop 19 and Props 60 and 90.

While these props can provide tax savings for property owners who want to transfer their tax basis to a new home, it's important to be aware of the eligibility requirements and limitations of each proposition. By understanding these differences, property owners can make informed decisions about their tax transfers and save money on property taxes.