Proposition 60 And 90 And Tax Transfer For Those 55 And Older
Proposition 60 allows any seller of seller-occupied real property who is 55 years or older at the time of sale to transfer the property tax of the sold property to any other property intended as the seller-turned-buyer’s principal residence to the new residence.
Provided:
1. The new residence is in the same county as the residence that was sold.
2. The purchase price of the new property is less than the selling price of the property sold.
Proposition 90 allows the same privilege of property transfer to another county provided that the county to which the prior tax is being transferred has opted to accept that transfer.
Counties which have adopted a Proposition 90 ordinance:
Alameda
Santa Clara
El Dorado
San Diego
Los Angeles
San Mateo
Orange
Ventura
Riverside
San Bernardino
