What is Prop 19?
- Removes location and price restrictions on property tax transfers for homeowners who are 55+, severely disabled, or victims of wildfire or natural disaster and allows them to transfer the property tax base of their existing home to a new home anywhere in California, regardless of price (with an adjustment upward to their tax basis if the replacement property is of greater value).
- Creates housing opportunities to build more senior housing and retirement communities for millions of seniors and Baby Boomers to retire with Prop 19’s tax benefits.
- Generates home-buying opportunities for tens of thousands of renters, young families, and first-time homeowners.
- Provides new revenues annually for fire protection, emergency response, local government, and school districts.
Nuts and bolts
Prop 19 removes location and price restrictions to allow homeowners who are 55 or older, severely disabled, or victims of wildfires or natural disasters to:
- Purchase a replacement home anywhere in California and transfer the taxable value of their current home, allowing them to realize significant annual property tax savings.
- Move closer to family or medical care, purchase a home that better meets their needs, replace a fire-damaged home, or retire or relocate anywhere in the state without a tax increase.
- Save substantially in annual property taxes when moving to a replacement home, even if the replacement home is more expensive than the original primary residence (with an adjustment upward to their tax basis if the replacement property is of greater value).
Transfer the low property tax base of your original home to a new home up to three times.
