Proposition 19 Clarification Coming Soon
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PROP 19 clarification coming soon
Property Tax Exemptions from Reassessment
With the passage of Prop 19 a homeowner who is over 55 years of age, severely disabled or whose home has been substantially damaged by wildfire or natural disaster may transfer the taxable value of their primary residence to a replacement primary residence anywhere in the state, regardless of the value of the replacement primary residence (with adjustments if “greater in value) within 2 years of the sale, and up to 3 times (but without limitation for those whose houses were destroyed by fire).
Proposition 19 will supersede the old rules which limited this exemption to the sale and purchase of a principle residence within the same county (Prop 60) or between certain counties (Prop 90)–but only if the replacement was of “equal or lesser value” and only one time.
c.a.r. legal counsel WARNS...
“Although we believe that the tax benefits under Proposition 19 apply to transactions where either the sale or purchase of primary residence takes place before April 1, 2021, as long as the subsequent sale or purchase takes place within two years and on or after April 1, 2021, others have taken the position that both the sale and purchase must occur on or after April 1, 2021. C.A.R. will seek official clarification of this issue.
“As always, our advice to agents is not to give legal or tax advice–especially on an issue that is so consequential and presently has no definitive answer. If an agent has a client who wishes to obtain the tax benefits of Proposition 19 for a transaction that closes prior to April 1, 2021, whether buying or selling a property, the client should be encouraged to seek the advice of a qualified California real estate attorney or tax advisor.
Nonetheless, owners of real property that qualify under Prop 60 or Prop 90 can still take advantage of those features until April 1, 2021. (If an owner never took advantage of these and were qualified, they might be able to get a refund of taxes already paid.
Agents should not give legal or tax advice–especially on an issue that is so consequential and presently has no definitive answer. Refer all questions to qualified CA real estate attorney or tax advisor.
| govt. affairs ARCHIVE
CONTACT:
DEC 2020 | C.A.R. Proposition 19 initiative passes by narrow margin; additional real estate related State ballot measures reflect negative public sentiment towards rent control and increased business property taxes. Voters approve County and local sales and business taxes; City Council representation results mixed. | MORE >
OCT 2020 | With election season comes a race for space to post signage. Be sure to familiarize yourself with local laws pertaining to sign placement, which may differ in every city. Illegal sign placement may result in onerous legislation that could severely restrict all signage privileges. | REVIEW CITY SIGN ORDINANCES >
PROTECTING PRIVATE PROPERTY RIGHTS | One of the most important services organized real estate provides members and consumers is representation in the halls of government. The REALTOR Action Fund (RAF), supported solely by REALTOR contributions, raises money to advance the goals of political action committees (PACs) supporting real estate at the local, state and federal levels. | LEARN MORE >

In Memoriam
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IN MEMORIAM
CCAR extends its deepest sympathies to the family and friends of REALTOR®
Mercer Tyson who recently passed away. CCAR member from 1973-2009,
Mercer was associated with John M. Grubb as well as Solomon Wilmington &
Associates, Village Associates and Alain Pinel in Orinda.
All REALTOR® Activity Subject to New Ethics Standards
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Code of Ethics amended to expand applicability to all REALTOR® activities on and off 'the field'
broad APPLICABILITY
Policy Statement 29. Applicability of the Code to non-real estate related activities
While REALTORS® are encouraged to follow the principles of the Code of Ethics in all of their activities, a A REALTOR® shall be subject to disciplinary action under the Code of Ethics only with respect to real estate related all their activities., and transactions involving the REALTOR.
new Sop 10-5
This new Standard of Practice flows directly from the requirement to not deny equal professional services to all or be parties to discrimination. Specifically, bias against protected classes revealed through the public posting of hate speech, overt discrimination or disparate treatment (e.g., violations of the Fair Housing Act).
public trust REdefined
The definition of “public trust” was expanded to include all discrimination against the protected classes under Article 10 of the Code and all fraud, and to limit the reporting requirement to final ethics decisions involving real estate related activities and transactions.
Article IV Code of Ethics, Section 2 NAR Bylaws
CLICK on links BELOW FOR nar & c.a.r. professional standards resources
Special Guest Presenting at West County Marketing Meeting – This Thursday
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Join us Dec 17!
Guest Speaker Edward Nattenberg
of Property Entry Now
Please join us for the West County Virtual Marketing meeting on Thursday, Dec. 17th from 9:00 to 10:00 am for a presentation by Edward Nattenberg of Property Entry Now. Property Entry Now is an app-based product that streamlines the process of gathering PEAD documents and scheduling showings. Edward will provide a demo and explain how the app works.
ZOOM IN:
https://zoom.us/j/96905629800?pwd=b2oydlVtS2g3WTcxQ2xUWDZVckV3Zz09
Meeting ID: 969 0562 9800
Passcode: 816803
One tap mobile
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+13017158592,,96905629800# US (Germantown)
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Meeting ID: 969 0562 9800
Find your local number: https://zoom.us/u/aGF5umEJc
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