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Proposition 90: Homeowners Exemption Age 55+. It’s a “property tax incentive to move”. The main qualification of this proposition, however, is that you already own a home…it allows a homeowner 55+ to transfer the assessed value of their home to a new home and pay taxes based on the assessed value of the first property for the first year in the new home (restrictions on the 2nd home of course apply). It doesn’t even really amount to much unless you've owned your home for a long time and it's now worth a crap load, and it’s only usable once (meaning you … (1 comments)
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