The passage of Proposition 19 on the November 3, 2020, ballot will have a significant financial impact on the transfer of real property to one’s heirs and for those homeowners who are over age 55, disabled, or victims of a natural disaster or waste contamination.

Proposition 19 will limit the ability of heirs to keep low property tax payments on inherited property and will also broaden the rules allowing eligible homeowners to take a portion of their property tax base with them when they sell their home and purchase a new one.  

Show Notes:

The following are important footnotes from this episode:

1 All numbers are approximations.

2 For more information, see California Revenue and Taxation Code section 64(c).

3 For more information, see California Revenue and Taxation Code section 64(d).

Important Disclosures: https://www.bosinvest.com/disclosures