Moving to a smaller home can free up cash and lower monthly costs, and California homeowners 55 and older may be able to carry their property tax base with them. See how the numbers could work.
Home Tools
Downsizing Calculator with Prop 19 Tax Transfer
See the cash a move to a smaller home could free up, the change in monthly cost, and what carrying over your property tax base could save.
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Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
This is an estimate for planning. It is not a quote, an appraisal, a loan offer, or tax or legal advice, and Rudy is a real estate agent, not a lender or tax professional.
About the Proposition 19 transfer
California homeowners who are 55 or older, severely disabled, or victims of a wildfire or declared disaster may move their current property tax base to a replacement home anywhere in California, up to three times. The replacement must be bought or built within two years of selling the original home. If it costs more than the old home's market value (adjusted to 105% or 110% in the first and second years after the sale), the excess is added to the carried-over value. The claim is filed with the county assessor after both transactions close, not through escrow.
California Board of Equalization: Proposition 19 has the official rules and forms, and your county assessor decides your claim.
Sources: California State Board of Equalization.
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