How Over Age 55 Can Buy a New Residence & Keep Old Low Property Taxes in California скачать в хорошем качестве

How Over Age 55 Can Buy a New Residence & Keep Old Low Property Taxes in California

How Over Age 55 Can Buy a New Residence & Keep Old Low Property Taxes in California On November 3, 2020, voters approved Proposition 19 (Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act), which makes sweeping changes to a property owner’s ability to transfer their Proposition 13 Assessed Value. Those changes included broad provisions that superseded prior laws for transferring the assessed value to another home (e.g. Proposition 60 and 90). Both Proposition 60 and 90 expired on March 31. Proposition 19 was hastily passed by the legislature in less than a week and put on the November 2020 ballot. While it changed the state constitution it did not provide implementing statutes. Moreover, portions of the approved language changes are ambiguous, unclear and/or conflicting. As a result, Santa Clara County Assessor Larry Stone was appointed by the California Assessors’ Association (CAA), to an ad-hoc committee of the CAA to help bring clarity to how Proposition 19 will be implemented uniformly by Assessors Statewide. The committee has enlisted subject matter experts and attorneys throughout California and is working closely with the Board of Equalization to provide guidance and where necessary passage, on an urgency basis, of implementing statutes and binding Board of Equalization rules. In the absence of Rules and implementing Statutes the Assessor, as of April 1, 2021 is implementing Proposition 19 as described below. Summary Effective April 1, 2021, Proposition 19 permits eligible homeowners (defined as over 55, severely disabled, or whose homes were destroyed by wildfire or disaster) to transfer their primary residence’s property tax base value to a to a newly purchased or constructed replacement residence of any value, anywhere in the state. The base year value may be transferred to a home of equal or lesser value. However, if the value of the replacement home is greater than the value of the original property, the difference in market values is be added to the transferred base year value. To see an estimate go to the Assessor’s Base Year Transfer Calculator. Claims must be filed within three years from the date the replacement residence is purchased or newly constructed to receive full relief. Claims filed after the three-year time period will receive Prospective Relief only. You must complete the claim form and provide evidence and/or declare under penalty of perjury that you are at least 55 years of age. Rex L. Crandell Firm Walnut Creek Office 3000 Citrus Circle Suite 207 Mail: P O Box 30305 Walnut Creek, CA. 94598 (925) 934-6320 (800) 464-6595 Fax: 925 934-6325 E-Mail: rexcrandell@astound.net Questions or comments? Call Rex Crandell Firm at 800 464-6595 or 925 934-6320 If you enjoyed this video, here are a few ways you can support the growth of our channel    / @estateplanningcalifornia   👍 Give it a thumbs up! Your vote means the world to us and greatly contributes to our channel's development. 💬 Leave a comment or ask a question about Wills, Trusts or Estate Planning. We love engaging with our viewers and will be delighted to respond to your questions. 📢 Share this video so your friends and family can join in on the excitement and learn more about Estate Planning in general. 🔔 Don't forget to subscribe to our channel and hit the bell icon to stay updated with our latest videos featuring helpful information in Estate Planning. Thank you for your attention! We truly appreciate your support. #estateplanning #estateplan #estateplanning101 #estate #children Follow Rex Crandell Firm on social media: Instagram:   / rexcrandellfirm   Facebook:   / rexcrandellfirm   Yelp: https://www.yelp.com/biz/rex-crandell... Website: https://www.rexcrandell.com/ Newsletter: http://taxrexcrandell.com/ Want to learn more about Estate Planning in California? COMPREHENSIVE ESTATE PLANNING: "Don't Leave Earth Without It" by Rex Crandell is available on Amazon - https://www.amazon.com/Comprehensive-... Subscribe to our YouTube Channel for informative videos on Estate Planning and Income Tax: "ESTATE PLANNING CALIFORNIA / Rex Crandell Firm"    / @estateplanningcalifornia