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Direct Line:
562-430-4007 Charlie@CharlieDunn.com Make Yours a "DunnDeal" |
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Proposition 60 & 90 Senior Citizen Property Tax Relief: |
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What are Propositions 60 & 90? They are constitutional initiatives passed by California voters. They provide property tax relief by preventing reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence worth the same or less than the original. Why Were They Enacted? They encourage a person, age 55 or older to “move down” to a smaller residence. When a senior citizen acquires a replacement property worth less than the original property, he/she will continue to pay approximately the same amount of annual property taxes as before. How Do These Propositions Work? When the senior citizen purchases or constructs a new residence, it is not reassessed, if he/she qualifies. The Assessor transfers the factored base value of the original residence to the replacement residence. Proposition 60 originally required that the replacement and the original be located in the same county. Later, Proposition 90 enabled this to be modified by local ordinance. Counties Involved in Proposition 90 A county’s participation in Proposition 90 is not mandatory and is subject to change. Therefore, you should always contact that county for Proposition 90 eligibility before you purchase your replacement property. The following is a list of the counties currently participating in Proposition 90 as of February 15, 2010: |
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| Alameda | Santa Clara | ||
| San Diego | Orange | ||
| Los Angeles | San Mateo | ||
| Ventura | El Dorado | ||
| To check on the Counties still participating call: 916-445-4982 | |||
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More information can be found at www.lacountyassessor.com |
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Contact your Local County Tax Assessor for more information. |
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Information deemed reliable but not guaranteed. |
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Charlie Dunn, CRS |
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