News and Legislation

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  • Thu, May 13, 2021 1:14 PM | Anonymous member (Administrator)

    TAXES:

    ACA 9- Property taxation: transfers of principal residences. This measure would repeal the worst provisions of Proposition 19. This bill would reinstate the prior rule excluding from classification as a “purchase” or “change in ownership” requiring reappraisal the purchase or transfer of the principal residence and the first $1,000,000 of other real property of a transferor in the case of a transfer between parents and their children, or between grandparents and their grandchildren if all the parents of those grandchildren are deceased. The measure would apply retroactively to all affected purchases or transfers occurring on or after February 16, 2020.
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