How to keep the low property tax assessment for an inherited property

/ / Published in Q&A - Home Selling Questions

Question:

“Are propositions 60 and 90 the ones that let people who inherit property from a parent or grandparent keep the low property tax assessment?”

Answer:

You’re thinking of California Propositions 58 and 193.

Propositions 60 and 90 allow people 55 or older to transfer their low Proposition 13 tax assessment to a new home under certain conditions.  

See https://www.boe.ca.gov/proptaxes/prop60-90_55over.htm

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Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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