This program will provide an overview of Proposition 19 and the changes to property tax
rules for transfers between parents and children and base-year value transfers for
seniors, disabled persons and disaster victims. Proposition 19 was a radical change in
the property tax rules and the most significant change since Proposition 13 was passed
in 1978. It has now been 2 years since Proposition 19 took effect and this program will
address practical considerations and personal experience with helping families navigate
change in ownership after the death of loved one. You will learn how to calculate the
expected property tax increase for transfers after death, even if the beneficiaries meet
the requirements for a property tax reassessment exclusion. For the base-year value
transfers, the program will offer tips to make sure the transferor can keep the lower
Proposition 13 property tax value for the new purchase. The program will discuss
common misunderstandings regarding the new property tax rules and some options for
keeping a lower property tax rate that are still available to owners. There will also be a
brief discussion about the efforts to overturn the Prop 19 changes to parent-child
transfers. If you advise parents, children, people over age 55 or disaster victims that
own real property…or if you are a parent, child, over age 55 (or hope to get there
someday!) and own real property this program will be valuable to you.