Tuesday, August 9, 2011

Transfer Your Home Property Tax Basis Value from Orange County CA to Replacement Dwelling at a Different County

My prior article ~ Protect and Transfer Your Home Property Tax Basis Value at Orange County, California ~ Proposition 60 ~ addressed the opportunity for homeowners who are 55 years of age or more to sell their Orange County home and transfer Proposition 13 property tax basis value to another Orange County home.

CA PROPERTY TAXES ON YOUR HOME 

What about transferring home property tax basis value from Orange County to another county?

California Proposition 90 was a different constitutional amendment separately passed by voters in 1988 (Revenue and Taxation Code, section 69.5 et seq) and presents Orange County home sellers who are 55 years of age or more with opportunity to sell and transfer home property tax basis value to replacement dwelling (a home) purchased in another county in California (if certain qualifying conditions are met). 

Some but not all California counties have adopted local ordinances to implement Proposition 90, including Alameda, Los Angeles, Orange County, San Diego, San Mateo, Santa Clara and Ventura.  Other counties have not adopted Prop 90.  

Before trying to transfer your Proposition 13 home property tax basis value to another county under the provisions of Prop. 90, always contact the Office of Orange County CA Assessor and also the local county assessor where you are buying a replacement home to discuss eligibility. 

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OC CLAIM FORM RE PROP 60 TAX BASIS TRANSFER

For more information and response to questions, see Office of Orange County CA Assessor for property owners 55 years of age or older.  If you want to buy a different home at Orange County and transfer your property tax basis, always work with an experienced REALTOR who is familiar with California Proposition 60 and 90 about protection and transfer of your home's property tax basis. 

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com(email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® ~ also appointed to serve as a director at California Association of REALTORs® 

Posted via email from Explore OC Homes

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