Disclaimer: Nothing in this recording or blog should be construed as legal advice. All viewers need to consult with an attorney and/or tax expert with regard to the topics discussed herein as every situation is unique and there are no guarantees of any particular result or outcome. There are no assurances that the information contained herein is accurate, reliable, timely or complete.

Wondering about Prop. 19? Here’s what it means to you and how to get around it. Under current law (Proposition 58), parents can transfer their personal residence and other real property (with certain limitations) to their children, either during lifetime or at death, and such transfers may be excluded from property tax reassessment. However, Proposition 19 (or Prop. 19), a ballot measure that recently passed, makes significant changes to the property tax law relating to transfers of CA real property between parents and children. Prop 19 also changes the property tax rules for CA residents age 55 or older who wish to transfer their existing property tax base from a current residence to a new home. We have included a video that describes the current CA property tax rules and then explain the effects of Prop. 19. One of the best parts is that it also has information on how to get around Prop. 19!