You may be able to transfer your current property tax base to a new home. When home prices rise, so do property taxes for homebuyers. You may have considered changing your residence and been concerned about an increase in property taxes.
If you are over 55 years old and meet certain requirements, Propositions 60 and 90 may be the opportunity for you. These propositions allow you to transfer your current property tax base to a home of equal or lesser value. Proposition 60 allow you to transfer to a home within the same county.
Proposition 90 allows you to transfer to a home in any county of California that has passed ordinances enabling Proposition 90. These propositions my be the opportunity for you to make your move and save money. Ther may be an opportunity to transfer your current property tax base, resulting in substantial tax savings.
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