How Prop. 19 Can Help Your Business – Jan. 27

With the passage of Proposition 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 two years of the sale
• Up to three times (but without limitation for those whose houses were destroyed by fire)