Proposition 19 and Property Tax Portability: What California Homeowners 55+ Need to Know
As middle-aged real estate agents, many of our friends and prospective clients are considering the next phase of their lives, which often includes relocating to a more suitable residence, often out of the Bay Area. As part of this analysis, we are regularly asked 3 questions relating to the sale of one’s primary residence: how can we take our existing property tax basis with us, is there a strategy for deferring capital gains taxes, and how to access the equity in one’s current property if the intention is to purchase the replacement home before selling the existing house.