Current laws allow seniors over 55 years old and severely disabled persons to transfer the taxable value of their existing home to their new replacement home, so long as the market value of the new home is equal to or less than the existing home’s value. The program was also limited to once in a lifetime, with additional restrictions where the replacement home is located (usually within the same county or within some counties that allow for reciprocity). Proposition 19 will make these programs more flexible. See below for the chart developed by the State Board of Equalization to compare the current law and the effects of Proposition 19.

Base Year Value Transfer – Persons At Least Age 55/Disabled

For more information on current programs, visit www.smcacre.org/reappraisal-exclusion-seniors-or-disabled