A Yes on Prop 19 provides housing relief for homeowners who are 55 and older, people with severe disabilities, or victims of natural disasters and wildfires – many who cannot afford to move closer to family or medical care – by allowing them to transfer their property tax base to a replacement residence anywhere in the state regardless of the price of the home. It will 100% exempt family-owned farms, including the land and the home. These farms will be able to transfer in entirety to the heirs with the lower tax base from the deceased family member. This key component of Proposition 19, missing from 2018’s Proposition 5, was added to save family farmers from losing their farm due to a reassessment at death of the farmer. Lastly, the initiative will also protect family transfers for children and grandchildren who live in the home.
It also limits property tax increases and removes unfair location restrictions so homeowners can afford to move to anywhere in California.
This will increase housing availability for new families and first-time home buyers. It will also generate the funding to help fill significant budget deficits, and generate billions in revenue for schools, state, and local government.
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