California Proposition 19 was approved on November 3, 2020. Prop 19 is also know as The Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act. Proposition 19 allows those who inherit family properties to keep the low property tax base held by there parents if they use the home as their primary residence. It also allows homeowners who are over 55 years of age, disabled, or victims of a wildfire or natural disaster to transfer their assessed value of their primary home to a newly purchased or newly constructed replacement primary residence up to three times.
The new law will make important changes to two existing statewide property tax saving programs:
Replace Proposition 58(1986) and Proposition 193(1996) by limiting parent-and-child transfer and grandparent-to-grandchild transfer exclusions- Effective 2/16/2021
Replace Proposition 60(1986) and Proposition 90 (1988) programs for home transfer by seniors and Proposition 110 (1990) program for severely disabled persons – Effective 4/1/2021
Additional information on California Proposition 19 can be found on the BOE website located here.