- The original property has to be eligible for the Homeowner’s Exemption.
- The replacement dwelling must be of equal-or-lesser value and within an approved county (Santa Clara County and The Villages qualify).
- The replacement dwelling must be purchased or newly constructed within two years of the sale of the original property (this need not be the first home that you purchase after the sale of the original property as long as the qualified replacement dwelling is purchased in the 2-year period).
- A claim for proposition 60 relief must be filed within three years of the date a replacement dwelling is purchased or new construction is completed.
This is not automatic. You have to file the claim.