Proposition 19: Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment
Proposition 19 permits Homeowners who are 55, severely disabled, or whose homes were destroyed by wildfire or disaster, to transfer their primary residence’s property tax base to a replacement residence of any value, anywhere in the state.
Limits tax benefits for certain transfers of real property between family members.
Expands tax benefits for transfers of family farms. Allocates most resulting state revenues and savings (if any) to fire protection services and reimbursing local governments for taxation related charges.
Allows eligible homeowners to transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment.
Increases the number of times that persons over 55 years old or with severe disabilities can transfer their tax assessments from one to three.
Requires that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred.
Allocates additional revenue or net savings resulting from the ballot measure to wildfire agencies and counties.
On another note Proposition 21: Local Rent Control was defeated by California voters. No on 21 at 60% and Yes on 21 at around 40%. This measure is similar to one on the ballot in 2016 and would allow cities and counties to implement rent control for certain residential properties that are over 15 years old.