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Bookmark or Share- Recommendation. Inheriting a property in California prop 19 tax?Prop 19, on the November ballot and which is forecast to pass, permits largely unrestricted portability of your Prop 13 basis if you exchange your primary residence within California, and as a concession ends the heritability of the Prop 13 basis unless the property is, and remains, a "family home" as defined by the Legislature**.
- West Side homeowners want to repeal Prop 19 so their kids can avoid ...If so, Proposition 19 allows inheriting up to $1M of savings in the assessment (which is about a $1k/month savings on the tax compared to market rate). homes around West Portal seem to be about $2M, so the discounted tax would be about $1k/month. Is this saying that she cannot afford about $1k/month in property tax?
- Does anyone think Prop 19 will be repealed in the futureProp 19 really screws over the middle-class who have worked hard to buy a home and would love to leave it to their kids someday to enjoy as a 2nd home. I am so angry this passed in the middle of a pandemic and is being pushed through while folks are strapped for cash to consult a lawyer and in such a short amount of time!
- impact of prop 19 on children who inherit property : r/bayarea - RedditProposition 19 does not affect the following, existing Proposition 58 parent to child exclusion from reassessment: a transfer of a primary residence from a parent (or child, the exclusion applies both ways) to a child (or vice versa as noted above), where the transferee (the one receiving the real property interest) uses the property as their primary residence.
- Prop 19 Seriously Pisses me off : r/bayarea - RedditThe youngest boomers were too young to vote for proposition 13. It was the greatest generation, the silent generation and some of the oldest boomers who voted proposition 13 in. The person who pushed proposition 13 was Howard Jarvis who was born in 1903. The first boomers were born in 1945 which makes the oldest boomers 33 in 1978.
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