Propositions 60 and 90 - Tax Relief in El Dorado County
All counties in California allow Proposition 60 but not all counties allow Proposition 90 which makes El Dorado County more beneficial to those considering downsizing and or relocating. It is something other Sacramento area counties like Sacramento County itself, Placer County, Nevada County, Yolo County, or San Joaquin counties do not offer to it's 55 year old plus home buyers.
Proposition 60 allows homeowners 55 and older (or if either spouse is 55 or older) to transfer the Proposition 13 assessed tax base valuation from one primary residence to the purchase of a new primary residence as long as both homes are in the same county and the new home is of equal or lesser value than the original home. This is a one time allowance.
Proposition 90 allows for the transfer as described for Proposition 60 but to another county as long as that county has adopted the ordinance. As of the end of December there are only eight counties within the state that have adopted the ordinance and allow the Proposition 13 tax base transfers. Those counties are: Alameda, El Dorado, Los Angeles, Orange, Riverside, San Diego, San Mateo, Santa Clara, and Ventura. The following counties: Contra Costa, Inyo, Kern, Modoc, Monterey, and Marin counties were once allowing them but have dropped out of the Prop 90 program. *Since writing this Riverside has dropped out of the program and is no longer acccepting Prop 90 transfers but San Bernadino County has adopted the ordinance.
Find out more details on both Propositions at the El Dorado County Assessor's Office web site.
El Dorado Hills is an upscale community in the foothills east of Sacramento but still within El Dorado County. Find out more about El Dorado Hills and search for properties on my website.
Other communities close to Sacramento but within El Dorado County to consider would be Cameron Park and Shingle Springs. You can also search for property listings in these communities from my website. Feel free to email me as well for information or help in finding a home.
I am a REALTOR® in El Dorado Hills with Lyon Real Estate.Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.comor email me at email@example.com.
Please keep in mind -the views expressed herein are my personal views and do not necessarily reflect the views of Lyon Real Estate.
By DeeDee Riley 2011 *All Rights Reserved*Propositions 60 and 90 - Tax Relief in El Dorado County