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

Published by Diego Loya

Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.

Leave a comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.