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You’ve built equity in your home, but moving often means starting over when it comes to property taxes. Proposition 19 changes that for some Californians. If you’re over 55, disabled, or have faced a wildfire or natural disaster, this law was written with you in mind. With the 2025 updates now in effect, it offers even more flexibility for your next move. Here’s what you’ll benefit from:
No location limits. You’re no longer restricted to buying within the same county. You can now transfer your tax base to a new home anywhere in California.
No value limit. You can purchase a more expensive home without being penalized. Your tax base carries over, regardless of the new home’s price.
More property transfers. Instead of a one-time benefit, eligible homeowners can now use this transfer up to three times in their lifetime. This added flexibility makes future moves more feasible.
To make use of this benefit, your new home must be purchased within two years of selling your previous one, and both properties must be used as your primary residence.
This law changes how families pass down property. Beginning February 2025, the exclusion amount has been adjusted to $1,044,586, a 2.15% increase based on the Federal Housing Finance Agency’s House Price Index.
This annual adjustment helps ensure that families can continue transferring their primary residence without triggering a reassessment, as long as the new owner makes it their own primary home. To qualify, the new owner must apply for the homeowners’ or disabled veterans’ exemption within one year of the transfer.
Proposition 19 offers valuable relief, something eligible families shouldn’t overlook. For personalized advice on how Proposition 19 might affect your specific situation, it’s best to consult with a tax professional or your local county assessor’s office. If you have any questions, feel free to reach out at (818) 903-5854 and tammyjerome@gmail.com. I’m happy to help.
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