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Proposition 90 & Proposition 60 |
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| Selling the home you have
lived in for years can bring a big profit. However, property tax is based
on the purchase price of the new home. This could cause your property
tax to increase significantly. This has discouraged many seniors from
downsizing. To address this, California has two Propositions that you
should know about. |
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| Under Propositions 60, if
you are over 55 and buying a home of equal or less value, and move
within the some county, you can keep your current property tax. If you change counties, under Proposition 90, the following cooperating counties will also accept your current tax rate. |
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| Santa Clara | San Mateo | Alameda | Los Angeles |
| Orange | San Diego | Ventura | |
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