Prevents any increase in property taxes on new home
Available on new purchase or even new construction property
Must claim this tax benefit within 2 years of the sale of your original property
Makes moving easier without the worry of new property tax burden
Great for longtime homeowners with an already low base property tax
Perfect if you are looking to change homes or downsize!
If you live in California and you or your spouse are over the age of 55 you can effectively reduce your property taxes when buying a new home.
In California when you buy a new home your new property is subject to reappraisal and therefore a new base tax value. Since real estate historically appreciates over time, your new base tax value will increase and therefore your property taxes will also increase.
Especially for older people whose income either diminishes or becomes fixed, this makes it difficult to buy a new property because of new higher property tax burdens. It was in this spirit that Proposition 60 was passed in 1986 and Proposition 90 followed in 1988.
Are you 55+ ? Take advantage of this one time only Property Tax Benefit on the purchase of a new home! Let the Sabrina Cole Group your SRES show you how to save THOUSANDS of dollars on your next home purchase.
To receive your FREE Information Guide on how to transfer your low property tax to your new home with Prop 60 and Prop 90 enter your name & email below with the comment "Info Guide" and we will send you all you need to know about this one time Property Tax Benefit for you!
Let the Sabrina Cole Group (Your Retirement Ready Specialist) show you how to Benefit from Proposition 60 or 90