Propositions 15 and 19, on the ballot soon, will eliminate the Parent-Child Exclusion from Reassessment which we now have. If passed, the new propositions will cause the new owner (parent/child) to have the real property taxes jump up (assuming appreciation since purchased) to the fair market value of the property at the time of death, gift, or other reason for the transfer.
Prop 19 will negatively affect most Californians leaving their homes to their children upon their passing.
BEWARE: Prop 19 is such a long-worded proposition, with a misleading title (“Limitation on Property Tax Increases on Primary Residences for Seniors, the Severely Disabled, Wildfire and Natural Disaster Victims, and Families.”). It is filled with some positive sounding actions that the Assessor certainly hopes that most people will vote for the Proposition(s) without a full understanding of its impact on their families.
I am not an expert on these Props but I will definitely be voting “NO” on both!
Consider doing the same and notifying others who you know of the foregoing concerns.
Stay safe. Stay healthy.
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