Property Tax Breaks For Seniors – Prop 60/90

Under Proposition 90, California property owners who are 55 years or older may be able to qualify to transfer the assessed valued of their principal residence sold in County “A” to their new residence in County “B”.

The County Assessors will require a copy of the tax bill from the other county and a copy of the applicant’s birth certificate to be included with the application. Also include a copy of the grant deed for the new purchase and a copy of the closing statements of both sale and purchase.

Summary of eligibility requirements

• The seller of the original residence, or a spouse residing with the seller, must be at least 55 years of age, as of the date that the original property is transferred.
• The replacement property must be of equal or lesser “current market value” than the original.
• The base year value of the original property cannot be transferred to the replacement dwelling until the original property is sold.
• The replacement property must be purchased or newly constructed within two years (before or after) of the sale of the original property.
• The owner must file an application within three years following the purchase date or new construction completion date of the replacement property.
• This is a one-time only filing. Proposition 60/90 relief cannot be granted if the claimant, or spouse, was granted relief in the past.
• Proposition 60/90 relief includes, but is not limited to: single family residences, condominiums, units in planned unit developments, cooperative housing, corporation units or lots, community apartment units, mobile homes subject to local real property tax, and owners’ living premises which are a portion of a larger structure.
• The taxpayer is not eligible for the tax relief until they actually own AND occupy the replacement dwelling as their principle residence.

Alameda (415) 272-3755

San Mateo (415) 363-4500

Santa Clara (408) 299-4347

Orange (714) 834-2746

Los Angeles (213) 974-3101

Ventura (805) 654-2181

San Diego (619) 531-5507

It is essential that you call the co-operating County in question, to verify that they are currently accepting the value transfer under Proposition 90, and what their requirements are. If you have any questions, the property tax office in Sacramento for all counties in California may be reached by calling: (916) 445-4982 or click here for frequently asked questions.

The information set forth herein is intended as an overview and should not be construed as legal, financial, or tax advice. Consult your tax professional.