Prop 90 may just be coming back to El Dorado County-Maybe even State wide!
Now called “The Home Protection for Seniors, Severely Disabled, Families and Victims of Wild Fire or Natural Disaster Act"-ACA 11. (Short version/title is the "Prop 13 Tax Portability Act".)
The CA. State Legislature has passed a strong Bi-Partisan Measure (Assembly Constitutional Amendment 11) Co-Sponsored by the California Association of Realtors (C.A.R.) and the Professional Firefighters that is poised to be placed on the November ballot.
This Act builds on CAR’s original initiative, Prop 5, that unfortunately did not pass the majority vote…this new Act strengthens the provisions CAR/My Association cares about most-Incorporates dedicated funding for fire protection and emergency response, to safeguard millions of lives in Communities across the State.
The new initiative will continue to expand Prop 13 Property Tax portability for ALL homeowners over the age of 55, people with severe disabilities and wild fire victims by removing unfair location and cost restrictions to allow Home Owners to move anywhere in the State.
In addition, it will open up housing inventory throughout the state creating Home Ownership opportunity for 1st time Homebuyers.
P.S. We are working on getting extensions of the 2-year rule to reinvest-for those that got caught up in the timeframe of when our county placed a sunset on Prop 90...