📢 Prop 19: What It Means for You 🏡

Описание: 📢 Prop 19: What It Means for You 🏡

This 2021 law changed how property taxes work for California homeowners. Here’s what you need to know:

✅ 55+ Homeowners – You can sell & transfer your low tax rate to a new home with only a marginal tax increase based on the price difference.

🚨 Inherited Homes – Your kids won’t automatically inherit your low property tax rate. That means when they inherit your property, they will be reassessed and have to pay property taxes according to the new market value of the property.

There’s one exception, your heirs can get a + $1M exemption to an increase in property taxes if:
1️⃣ The home was your primary residence when you passed.
2️⃣ They move in within one year and make it their primary home.

Many long-time homeowners don’t realize this—and it could have a huge impact on your estate planning and the lives of your heirs. If any of this is a surprise to you, reach out to me and we can discuss further.

📍 Alex Smith | South Bay Broker & Property Manager

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Open Houses in the South Bay

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Alex Smith
424-259-3830
[email protected]
www.southbaysmithrealty.com