Lu, Home Buyer in California, San Bern...

Transfer of Tax Base for Person aged 55 and Over

Asked by Lu, California, San Bernardino, CA Thu Mar 14, 2013

I sold my home for $600,000 10 months ago, for which I was paying $7,380 of property tax. Then I purchased a smaller home for $350,000, the property tax is going to be $5,250. I do not see any benefit from filing for the "Transfer of Tax Base for Person aged 55 and Over". Am I right? Will anyone share your knowledge in this matter?

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Harrison K.…, Agent, Irvine, CA
Sun Mar 17, 2013
For information about selling and buying replacement home at Orange County CA, while protecting and transfering your property tax basis, see my article:

http://ocpropertyvalueguide.com/2013/03/17/how-to-transfer-y…

Harrison K. Long, Realtor and broker associate, Coldwell Banker NRT, CADRE 01410855.
0 votes
Walter 'Skip'…, Agent, Brea, CA
Thu Mar 14, 2013
Hi Lu,
I would agree that tranferring a higher tax base would not be of benefit. If your new property is in San Bernadino County, I do not believe it is eligible to Prop 90. As of January 2012 only 8 counties in Calif allowed transfers. Riverside and San Bernadino counties were not included. Just google CA prop 90 and you can get the required information.
Hope that helps,
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