California Prop 19 rules take effect.. 2021

Prop 19 also narrowly passed in the November election, which changes some of California’s laws around property transfers. Starting in February, those who inherit property have to use it as their primary residence or have its tax value reassessed. Starting in April 2021, homeowners 55 or older or those who lost their home in a disaster will also be able to transfer their tax assessment to a more expensive home three times (instead of the currently allowed one time).

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