Tuesday, Oct. 13 1-1:30 p.m. C.A.R. Past President Steve White will talk about the C.A.R.-sponsored Proposition 19. Prop 19 changes certain property tax assessment rules on property transfers by homeowners 55 or older, or those who have lost a home in a natural disaster. Prop 19 would enable those affected to transfer their tax assessment to a more expensive home three times (instead of once) with an upward adjustment. It would also eliminate one exemption that exists when someone transfers a home to a child or a grandchild if the recipient doesn’t use the home as their primary residence. CVAR’s Local Government Relations (LGR) Committee hosts this Hot Issues Briefing to explain Proposition 19 and its impact on the real estate industry.
