Updated on April 1, 2021 at 8:50 am
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Starting Thursday, California homeowners who are over the age of 55 or are disabled or victims of a natural disaster can transfer their previous property-tax base when they sell their home and purchase a more expensive one.
The benefit, which is part of Proposition 19 approved by voters during the Nov. 3, 2020 election, allows eligible homeowners to transfer their property s assessed value to a home up to three times more expensive. Under the previous law, homeowners could only transfer their base-year assessed value to a home of equal or lesser value. Download our mobile app for iOS or Android to get the latest breaking news and local stories.