Want to Take Your Property Tax Bill With You?

In California, Proposition 60 was passed to enable homeowners over 55 to transfer their property tax basis to a property of equal or lesser value within the county. To qualify for a Prop 60 tax base transfer, a few criteria must be met. First, either the claimant or claimant’s spouse must be age 55 or older when the original residence is sold. Second, the market value of the replacement residence must be equal to or less than the market value of the residence sold. Third, the replacement residence must be purchased within two years either before or after the current residence is sold.

Proposition 90 allows homeowners 55 years of age or older to transfer the base year value of their principal residence in one county to a newly purchased or constructed replacement residence in another county. Only a limited number of counties participate in Proposition 90. Those counties participating are Alameda, El Dorado, Los Angeles, Orange, Riverside, San Bernadino, San Diego, Santa Mateo, Santa Clara, Tuolumne and Ventura.

Applications for Proposition 90 must be filed in the county where the newly purchased residence is located, and this must be a county participating in the Prop 90 program. The effective dates and filing fees vary from county to county.