Holly & Chris Luxury Homes

Inheritance

How will Proposition 19 affect my property taxes

How will California’s Proposition 19 impact your property taxes?

In the most recent election, Proposition 19 was placed into law by a slim majority and will be in effect as of April 1, 2021. Prop 19 gives new property tax breaks to homeowners over 55 while increasing the for those who will inherit their family's properties. The most important point is . . . heirs will now pay the market value in taxes. Where it benefits older homeowners is when they sell their...