Why Should You Care About Proposition 19?
Why Should You Care About Proposition 19?
In 2020, Proposition 19 became a game-changer for many residents of the state, and its consequences continue to shape California’s housing market, tax system, and estate planning. This voter enacted proposition altered the rules for property tax transfers, particularly for homeowners aged 55 and older, those with a disability, and victims of wildfire or natural disasters. It allows these individuals to transfer their existing lower property tax base to a new home anywhere in California. However, it restricts the transfer of low property tax assessments from deceased homeowners to their children. Proposition 19 also impacts the transfer of rental, commercial and business properties from parents to children by triggering property tax reassessment at fair market value upon transfer. These are changes that our clients need to understand when preparing an estate plan.
Join us on September 16th, to meet Los Angeles County Assessor Jeff Prang. He was first elected in 2014 as the 27th Assessor for the County of Los Angeles and re-elected in 2018 and 2022. Mr. Prang will share with us the challenges that the taxpayers, counties, and the State of California have faced with the changes in the property tax laws.
IMPORTANT NOTE TO GUEST REGISTRANTS: OUR WEBSITE IS CURRENTLY UNDERGOING SOME UPDATES, INCLUDING THE CREDIT CARD PAYMENT FEATURE. FOR THE MONTH OF SEPTEMBER 2025 WE ARE ACCEPTING CASH OR CHECK FOR GUEST FEES ON THE DAY OF THE EVENT. WE ASK GUESTS TO REGISTER ONLINE AND SELECT THE OPTION "PAY AT THE DOOR." THANK YOU FOR YOUR PATIENCE AND UNDERSTANDING.
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