Prop 19 Explained | California Property Tax Transfer

Because Proposition 19 is such a valuable tool for so many people, I wanted to give you a quick refresher on the topic.

Let’s rewind just a little bit. Before Proposition 19, homeowners 55 years and older or severely/permanently disabled could apply to transfer their tax base if they met four criteria:

1. A tax base could be transferred one time.
2. The home had to be in the same county or a reciprocating county.
3. The replacement property had to be of equal or lesser value.
4. The replacement property purchase had to be completed within two years of selling the original primary residence.

With the implementation of Proposition 19, homeowners have more flexibility to take their original tax base to a new home. An eligible homeowner must be 55 years and older, severely/permanently disabled, or a victim of wildfire or natural disaster.

Here are the new guidelines:

1. The replacement property can be located anywhere in California.
2. The tax base can be transferred to the replacement property regardless of value.
3. The replacement property purchase has to be completed within two years of selling the original primary residence.
4. A tax base transfer can be done up to three times.

Here are a few things you need to know if you plan on transferring your tax base:

1. Transferring your tax base takes place after you have sold your original residence and purchased your replacement property. It is not done through escrow.
2. Transfer forms can be found online and should be filed in the county where the replacement property resides.
3. You are able to purchase a replacement property prior to selling your original residence, but it must be sold within two years of the replacement property purchase.
4. If you took advantage of a tax base transfer under Prop 60/90, you are still eligible to take advantage of Proposition 19 up to three times.
5. There is no time limit in which you need to occupy your original primary residence prior to selling and transferring your tax base.

If you have any questions about your new options under Proposition 19, please shoot me a text at (949) 620-6206 so we can get a plan in place and find a home that meets your needs.

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My name is Ryan Schramm. I am a South Orange County real estate agent and broker/owner of Ryan Schramm Real Estate.

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