When it comes to taxes and household actual estate, Proposition 19 presents a give-and-take solution.
On just one hand, it could advantage owners around the age of 55 who want to go and consider their present-day property tax foundation with them. Prop. 19 would allow for older homeowners to do this up to a few periods and if they order a a lot more pricey household, they’d only fork out for the upward adjustment.
But it really is the flip side of Prop. 19 increasing the most controversy.
Below latest regulation, you inherit the very same residence tax foundation on properties passed down by family members.
Below Prop. 19, people taxes would be adjusted to current market charge if you will not hold the inherited household as