Exciting news for homeowners wanting to buy a smaller home and/or move to a different part of the state!
Enacted in California in last November’s election, and scheduled to take effect on April 1st, PROP 19 provides amazing, newly expanded possibilities for moving by allowing homeowners over the age of 55 to
Transfer taxable value (their “tax base”) of their current primary residence to a replacement residence anywhere in the state:
- Regardless of the value of your new home (it can be more or less expensive than the home you sell)
- Within 2 years of the sale of your current home
- Up to 3 times
- And you can purchase your new home before your current home is sold
Please contact us for additional info on how this money-saving new law could work for you.