Transferring Wealth, One Home at a Time California's housing market has seen significant growth in recent years, but a lesser known provision in Proposition 19 has provided relief for many older homeowners.
Introduced in 2020, this law allows Californians aged 55 and above to transfer their property tax assessment from one home to another within the state, up to three times in their lifetime.
This provision addresses a pressing issue faced by long time California residents: the disparity between assessed property values and market rates.