California Proposition 19, or the Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act, is a Constitutional Amendment that imposes new limits on property tax benefits for inherited family property. Under Proposition 19, a child or children may keep the lower property tax base of the parent(s) ONLY if the property is the principal residence of the parent(s) and the child or children make it their principal residence within one year.
The other component of Proposition 19 allows homeowners who are over 55 years of age, disabled, or victims of a wildfire or natural disaster, to transfer their lower assessed property value of their primary home to a newly purchased or newly constructed replacement principal residence up to three times (or once per disaster). The tax base may be transferred to a property located anywhere in the state of California.
Proposition 19 may affect your next escrow. This calculator will help you estimate the property taxes under Prop 19 quickly and easily!
DISCLAIMER: This Prop 19 property tax estimation calculator is based on the California Association of Realtors analysis of Prop 19. These are only estimates. Each county and city has different tax assessments that may apply. To get an exact figure you should consult with a professional tax and real estate advisor.