California Proposition 19: What You Need to Know

If you’ve been hearing about Proposition 19 and wondering what it means for California real estate, here’s a quick breakdown of the pros and cons—plus why you might want to work with an experienced Realtor to navigate these changes.

Pros of Proposition 19

Property Tax Portability: Seniors (55+), people with severe disabilities, and victims of natural disasters can transfer their property tax assessments up to three times anywhere in California, potentially saving on property taxes.
Incentives to Move: Retaining the property tax basis encourages eligible homeowners to downsize or relocate without fear of drastic tax hikes.
Disaster Relief: If your home is damaged in a wildfire or other natural disaster, you may keep your property tax base when moving to a new home.

Cons of Proposition 19

Inherited Property Taxes: Inherited properties (not used as a primary residence) may see higher property taxes, impacting family transfers.
Complex Regulations: There are specific requirements and deadlines. Misunderstanding the law can lead to lost tax benefits.
Limited Exemptions: While it helps many, some homeowners do not qualify for these tax breaks, making their moves potentially more expensive.

Why Work with a Realtor?

Navigating the California real estate market can be challenging—especially with evolving laws like Proposition 19. As a local Realtor at M-1 Realty, I’m here to guide you through the process, explain how these rules might affect your buying or selling strategy, and ensure you’re making informed decisions.

Ready to make your move? Visit m-1realty.com for more information and let me help you find the best path forward. Whether you’re a senior looking to downsize, a family dealing with an inherited property, or anyone seeking clarity on property taxes and home sales in California, I’m just a message away.

Disclaimer: This post is for informational purposes only and does not constitute legal or tax advice. Please consult with a licensed attorney or tax professional for specific guidance.

Like & Share if you found this helpful, and feel free to message me at M-1 Realty with any questions about buying or selling real estate in California!