Transfer Your Low Property Tax Basis-How it Works

Commonly Asked Questions

What is the difference between Proposition 60 and Proposition 90?

Proposition 60 relates to transfers within the same county (intra-county). Proposition 90 relates to transfers of base value from one county to another county in California.

Is it true that only one claimant need be at least age 55 as of the date of the sale of an original property in order to qualify?

Yes, the principal claimant/occupant or his/her spouse must be age 55.

If I get Proposition 60/90 benefits will I still have to file for a Homeowners Exemption on the replacement property?

Yes, you must file for a homeowners Exemption on the replacement property. It is not granted automatically.

What is the filing deadline?

Within three (3) years of purchasing or completing new construction of the replacement property.

Can a claimant transfer the factored base year value from an original single family residence to a replacement duplex or mult-unit residence (living in one unit and renting the others)?

Yes, the owner could carry the factored base year value of the original property to that portion of the replacement parcel that is his/her principal place of abode, and the land that constitutes a reasonable size to embody a site for the residence. However, the portion comprising the abode must be of equal or lesser value than the original property. The rest of the parcel will be appraised at its market value.

The following counties have elected to participate in this program:

Alameda, Los Angeles, Santa Clara, San Mateo, Orange, San DIego, Ventura

For more information visit: http://assessor/lacounty.gov

Leonard Newman is the owner/Broker of Newman Realty, located in downtown San Juan Capistrano (directly across from the Historic Mission).