I want to move to a better San Gabriel Valley CA area but I must maintain my current property tax rate. What are my options? Please advise.

Asked by Concerti, El Monte, CA Fri Sep 16, 2011

My neighborhood is in continual decline, primarily due to current property owners' lack of maintenance of their own properties.

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Steven Ornel…, Agent, Fremont, CA
Sat Sep 17, 2011

Yes, you can transfer your current tax base using Props 60, 90 & 110. There are special circumstances that not only allow some to transfer tax base TWICE, the replacement property may be 110% of the sale price (see page 2 of the linked document). Whatever you do, consult a tax/financial planner before taking any action!

Prop 60 provides for the transfer of a base year value from a principal residence to a replacement dwelling within the same county by a homeowner age 55 and over.

Prop 90 authorizes county boards of supervisors to adopt ordinances allowing base year value transfers between different counties, which at the present moment only the following Counties are participating (confirm current status before taking any action): Alameda, Orange, San Mateo, Ventura, Los Angeles, San Diego, Santa Clara.

Generally, a person can use Prop 60 or 90 only once. The sole exception is where a person first received relief for age and then subsequently became severely and permanently disabled and had to move because of the disability.

Prop 110's Section 74.3(b) extends Prop 60 & 90 to "... any person who has a physical disability or impairment, whether from birth or by reason of accident or disease, that results in a functional limitation as to employment or substantially limits one or more major life activities of that person, and that has been diagnosed as permanently affecting the person's ability to function, including, but not limited to, any disability or impairment that affects sight, speech, hearing, or the use of any limbs."

You can read more details here: http://docs.Steven-Anthony.com/Prop60-90-110.pdf

Best, Steve
0 votes
Bill Mota, , West Covina, CA
Sat Sep 17, 2011
If you are over 55 years of age, you can move your property tax bill with you ONCE - But, you also need to be trading DOWN in price.

Call me to discuss further if this applies to you.
0 votes
Rich Anderson, , Los Angeles County, CA
Sat Sep 17, 2011
You must purchase a similar home as to value but in a more desireable area. consider the future this market will turn, might take 3-5 years but your appreciation will be greater.
Rich Anderson
Realtor, SFR
DRE # 01488220
RE/MAX Masters
1340 E. Route 66 Ste.110
Glendora, Ca. 91740
Office Phone: 626-914-5848 Ext.224
Direct Phone: 909-740-9210
E-Mail: crich4property@yahoo.com
0 votes
Sergio Medina, Agent, Long Beach, CA
Fri Sep 16, 2011
Hello Concerti.
There is a way to rollover your current tax rate but there are certain provisions that apply. I would need to ask you some questions to determine if you qualify or not. Please feel free to contact me directly. 562-652-9921
http://Www.LarocheTeam.com. Thanks
0 votes
John Barry, Agent, Eagle Rock, VA
Fri Sep 16, 2011
Hi Concerti,

Your property tax for a new property will be based on the purchase price that you pay for it. If you want to maintain your current property tax amount, you will have to buy a property equal to or less than the amount your property is currently assessed for. You can also apply for a reduction in your current property tax if you feel the market value of your property is less than the assessed value. Good luck, let me know if you have any questions.

John Barry
Coldwell Banker
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