If i move to a new home can i take my prop 13 tax base with me.?

Question

If i move to a new home can i take my prop 13 tax base with me.?

Answer 1

Only if you are elderly, downsizing to a home that is worth less than the one you are selling and live in a county that will let you do this.

Answer 2

You're question concerns both Proposition 60, 90, and 110 of California.

They provide for the transfer of a property’s base year value from an existing residence to a replacement residence, under certain conditions, for qualified persons over the age of 55 or persons of any age who are severely and permanently disabled.

   1.  Both properties must be located in the same county, unless the county in which the replacement residence is located has an ordinance that allows intercounty base year value transfers (check the new county you plan relocating).

   2. As of the date of transfer of the original property, the transferor (seller) or a spouse residing with the transferor must be at least 55 years of age, or be severely or permanently disabled.

   3. At the time of sale, the original property must have been eligible for the Homeowners’ Exemption, or entitled to the Disabled Veterans’ Exemption.

   4. Generally, the replacement dwelling must be of equal or lesser value than the original property.

   5. The replacement dwelling must have been acquired or newly constructed within two years of (before or after) the sale of the original property.

   6. The owner must file an application within three years following the purchase date or new construction completion date of the replacement property.

   7. The original property must be subject to reappraisal at its current fair market value. Therefore, transfers of the original property that are excluded from reappraisal      (e.g., most transfers between parents and children) will not qualify.

  

Answer 3

.   No.  You get a new "basis" when  you purchase the new house.