66. Prop 19 and Property Tax Mobility

Prop 19 – what is it? How does it work? Who does it benefit? If you are on a fixed income and budget sometimes you can be stuck in a home that no longer serves you due to your lower tax base. We call those ‘golden handcuffs’ a term we go into depth explaining in our latest podcast. Prop 19 was designed to help release those handcuffs and allow seniors (55+) people to move. Tax base exchange is only available for three groups of people those 55+, disabled veterans, or victims of a wildfire. Under the old law, there were limited counties that participated, you needed to buy an equal or lesser value home, and you could only do it once. Under prop 19 all 58 counties must participate, and you can do it 3 times for equal or even higher value homes. What is the timing of the process? In our podcast, we walk you through sell first buy one or even buy one and then sell. Tune in as we answer your most pressing property tax mobility questions.

Adam Hamalian and Sherry Hutchens are real estate brokers (REALTORS) working in Contra Costa and Alameda Counties in the beautiful San Francisco Bay Area. Join us as we discuss the interesting and complicated world of real estate through engaging stories, humor, and expert insights. Over the past few months, Sherry & Adam have been producing a podcast that aims to both educate and entertain our clients and colleagues. Each episode explores some aspect of residential real estate or features interviews with seasoned professionals, where we uncover their unique experiences and valuable lessons. Whether you’re a curious homeowner or an experienced agent, there’s something for everyone.

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