PROP 19 in CA | What This Means for YOU and How to GET AROUND IT! скачать в хорошем качестве

PROP 19 in CA | What This Means for YOU and How to GET AROUND IT!

Prop. 19, What This Means for You and How to Get Around it! Wondering about Prop. 19? Here’s what it means to you and how to get around it. Following is a partial transcript of our interview with preeminent attorney Debbie Keesey. .. So, I’ll start with an overview. Prop. 13 essentially allowed a homeowner to keep their property taxes low because they would be limited to just the value - the base value of the purchase price. That’s the cost basis for the property tax assessments. It would be about 1.5% ish and what then went with Prop. 13 was the Prop. 58 which allows a parent to transfer to their child their property tax basis by allowing the child to inherit the house. So, even if the house was worth $100,000 at the time the parent purchased the house, but at the time of the transfer to the child, the house had appreciated say over 25- 30 years, the house is now worth $1,000,000- the child could file a Prop. 58 down as the parent-child exclusion from reassessment of property taxes. And that would allow the child to keep the parents’ original property tax basis. (check video for more) And at the transfer date, the child for capital gains tax purposes is getting a stepped up basis. If the child acquires the property and it’s worth $1,000,000 (even though the property tax basis is the parent’s original property tax), if they turned around and sold the property tomorrow, there would be zero capital gains because their capital gains cost basis is now the property value (which they are selling the property at). So, in California, even though the property prices were very high, you were getting the benefit of this parent-child exclusion from reassessment and the step up in basis. And there were a lot of groups trying to get rid of that and a lot of people who wanted to keep it. So tell us what happened with Prop. 19 ..... (check video for more) [For ways on deferring capital gains taxes, please subscribe to my blog on the home page at ClaraDuranReed.com and check back as I will post how to do this without a 1031 Exchange] ... Clara you are in real estate now, but you have this great attorney legal background and the legal mind to help your clients in all these ways. ✅. More info on Prop. 19: Q and A: https://res.cloudinary.com/los-angele... If you want to get in touch with Debbie, her information is going to be at the end of the video- or reach out to me, and of course, if you have any questions for me or would like additional recommendations, please feel free to give me a call, I’m happy to help and I’m always here for you. CONTACT CLARA --------------------------------- ☎️ : (310) 519-7670 ✉️ : [email protected] 🖥️ : ClaraDuranReed.com or CaliforniaCoastalHomes.net DRE 01396050 Enjoying this video? Be sure to 👍 L I K E , S U B S C R I B E and S H A R E with Friends. ❤️ 🔔 Subscribe to my channel to get the latest videos and tips that will help you with your real estate journey.    / @claraduranreedcacoastalhom6258   New Videos every Week! SCHEDULE A QUICK CONSULTATION --------------------------------------------------------- 📱Buyers/Sellers: Book Your 1 on 1 Call Here 🚨 https://calendly.com/bookyour1on1call HELPFUL LINKS FOR SELLERS ------------------------------------------------- Seller Guide: https://claraduranreed.com/free-home-... Tips to a Fast Sale: https://bit.ly/sell-fast-now ABOUT CLARA ------------------------ Clara Duran Reed is a full-time Realtor®, Sellers Real Estate Specialist, Seniors Real Estate Specialist, and past consumer attorney in Palos Verdes, CA serving buyers and sellers throughout the South Bay Area, West Los Angeles, and offers Nationwide Relocation. She enjoys designing, photography, home renovation and playing tennis. LET'S BE FRIENDS! ------------------------------- Facebook:   / theduranreedfirm   Instagram: @pv_realtor Blog: https://www.claraduranreed.com/blog Linked In: https://bit.ly/Clara-Linked-In If you want to talk to me about Real Estate in Palos Verdes, the surrounding South Bay, West L.A. or to be connected for free with an agent in your city through our Nationwide Relocation, feel free to contact me. Make sure to click the bell 🔔 to be notified of our next weekly video. "Disclaimer: Nothing in this recording should be construed as legal advice. All viewers need to consult with an attorney and/or tax expert with regard to the topics discussed herein as every situation is unique and there are no guarantees of any particular result or outcome. There are no assurances that the information contained herein is accurate, reliable, timely or complete." #ranchopalosverdesrealestate #palosverdesrealestate #redondobeachrealestate #torrancerealestate #beveryhillsrealestate #santamonicarealestate #westlarealestate #freehomesellerguide #freehomesellersguide #homebuyersguide #homebuyerguide