With the passage of Proposition 19, a homeowner who is 55 years of age or older, 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 and purchase
• Up to three times (but without limitation for those whose houses were destroyed by fire)
Proposition 19 supersedes the old rules which limited this exemption to the sale and purchase of a principal residence within the same county (Proposition 60) or between counties (Proposition 90) — but only if the replacement property was of “equal or lesser value” and only one time. Prop 19 tax portability clearly applies to any sale or purchase on or after
April 1, 2021.
Use the form below to file for the transfer if you are 55 or over:
You are encouraged to seek the advice of a qualified California real estate attorney or tax advisor regarding your situation.