* Proposition 90 is no longer available in El Dorado County.
Since February 2010 El Dorado County has been one of only nine counties that have a Proposition 90 ordinance but the Proposition 90 option may be ending for El Dorado County buyers. When it was voted in by our supervisors in December of 2009 it was set to expire in 5 years unless approved again. If not approved again, buyers will have until April 1, 2015 to get their application in. *On January 27, 2015 the El Dorado County Board of Supervisors voted to extend the Prop 90 ordinance here till October 1, 2016.
What is Proposition 90?
Propsition 13 prohibits property tax increases until property ownership is changed. With the passage of Proposition 90, homebuyers over the age of 55 can transfer their old Proposition 13 value from their previous residence for moves from other counties to El Dorado County when a primary residence is replaced with a residence of equal or lesser value.
Proposition 90 can be a great tax advantage for buyers. If you or your family members are thinking of a move here to El Dorado County for this very reason don't wait!