For home owners age 55 years of age or more in California, it's possible to plan and protect property tax assessed value basis on the sale of a home and buying replacement. Home value basis protection is important in California where most property taxes are paid at one percent of assessed value. Assessed value protection for people 55 years of age and over who want to sell their home and buy another is especially important. California Proposition 60 was a constitutional amendment approved by the voters in 1986 ~ Section 69.5 of the California Revenue & Taxation Code~ allowing transfer (2 comments)