California’s Proposition 19

Proposition 19 significantly changes certain property tax transfers, exemptions and revenue for Wildfire Agencies and Counties.

Specifically, primary residents over 55 may now carry their current tax assessments to a replacement residence in any California county.

Also, Parent-to-Child exemptions are limited to the first $1 million of value over the parent’s assessed value. The exemption is also limited to only primary residences of both the parent and child.