What Do You Know About Prop 90 Ordinance?
Proposition 90 is designed to induce greater turnover of homes owned by senior citizens. The measure offers anyone over the age of 55 relief from Proposition 13 by allowing them to move from one county to another without under-gone a charge in their basic property taxes. Under Proposition 13, the value of a home is re-assessed to the current market value upon a change in ownership.
The following is a list of those counties which have approved Proposition 90 and will currently accept base year value transfers form other counties as of July 2016.
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Alameda
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San Mateo
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Santa Clara
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El Dorado
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Los Angeles
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Orange
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Riverside
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San Bernardino
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San Diego
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Tuolumne
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Ventura
What is the difference between Proposition 60 and Proposition 90?
Prop 60 allows homeowners who are 55 years or older to transfer the base-year value of their principal residence to a replacement dwelling located in the same County under certain circumstances (intra-county).
Prop 90 allows homeowners who are 55 years or older to transfer the base-year value of their principal residence from one county to another in California (inter-county), provided that certain requirements are met. To receive the benefit, the new residence must be in a county that has adopted Prop 90 and it is the discretion of each county to authorize such transfers.
For more information on Proposition 60 & 90. visit http://www.boe.ca.gov/proptaxestfaqs/propositions60_90.htm for details. This article is intended for general informational purposes only. Please consult your tax or legal advisor for specific legal advise.