Ron Denhaan, Realtor (949) 290-3263. Orange County real estate specialist.
Home page - Ron Denhaan, Realtor
Ron Denhaan - Contact me at (949) 290-3263 or ron@rondrealestate.com - Thank you!
Search for homes
Ron Denhaan - About me button
Sell your home
Lease your home
Short sell your home
Essential Articles
Vital Resources

 Community Links

Coto de Caza
Dove Canyon
Mission Viejo
RSM
Trabuco Canyon
Lake Forest
San Juan Capistrano
Ladera Ranch
Aliso Viejo
Laguna Niguel
Laguna Hills
Irvine
Tustin
orth Tustin
Yorba Linda
Fullerton
Costa Mesa
Anaheim Hills
Orange
Orange Park Acres
San Clemente
Beach Areas
anyon Areas

  Specialty Sales 

Condos & town homes
Single family homes
Lots and Land
Homes with large lots
Horse properties
No Mello Roos
Bank Owned homes
Single Story homes
Golf Course homes
Luxury homes 
Income properties
Vintage homes
Mid-Century homes
Gated communities
Pool homes
Short sale listings
Live/work homes
55+ senior homes   
Investing in real estate
Homes with views

 Selling/Buying 

Homebuyer resources
Contingent buyer
7 Buyer mistakes
7 Seller mistakes
10 Selling Myths
10 Selling Tips
10 Steps to Buying
10 Steps to Selling

  Leasing 

OC homes for lease
Leasing FAQ
Pet-friendly leases
Lease with bad credit
Vital real estate web links
Exceptional buys
Featured property
Mortgage calculator
My Listings
Contractor referrals
Listing photo portfolio
Orange County map
The Greener Home
Proposition 19  -- Benefits for seniors

Proposition 19 can save you thousands in property taxes when you transfer your existing tax base to your new home

CA Prop 19 - California voters recently approved Proposition 19, The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act. Proposition 19 went into effect on April 1, 2021. There are several facets to this new act, including helping wildfire victims, etc. The main benefit is that it allows millions of California senior homeowners (55 years of age or older) to keep their lower property tax base after they move into a new home. This proposition super cedes Prop 60 and 90 tax transfer laws in this regard. It also improves on them in several ways. 

While Proposition 60 allowed property tax transfers within a County, homeowners could use Prop 60 only once in their lifetime. Plus, the homeowner had to purchase a replacement property of equal or lesser value. 

Proposition 90 allowed property tax transfers from one County to another, but only if the Counties cooperated with the measure - many did not. And like Prop 60, Prop 90 could only be used once. Plus, the replacement property had to be of equal of lesser value. 

The new Proposition 19 benefits include:
Property tax transfers can take place anywhere in the state - No more needing the cooperation of Counties per Prop 90.
Transfers are allowed regardless of the value of the replacement primary residence (with adjustments if greater in value).
The transfer can take place within two (2) years of the sale.
Homeowners can use Prop 19 up to three (3) times (but without limitation for those whose houses were destroyed by fire).

How are these new features beneficial to you? 

You no longer have to worry about buying a replacement property at equal or lesser value. For many of my clients, the concern with Prop 60 was making sure that they sold their home for more than the value of the replacement property. This was very limiting. Many clients would have preferred to upgrade rather than being forced to downsize. In many cases, they were forced to settle for a less expensive replacement home if they wished to keep their lower property taxes. Prop 19 solves this problem by allowing you to purchase a home for a greater value than the one you sold. You merely have to pay tax difference if you go up in value. As an example: You sold a home for $700,000 with a property tax basis of $300,000. You then bought a replacement home for $800,000. With Prop 19, you can transfer you $300,000 property tax basis and you would only pay additional property tax on the $100,000 added value. 

You are no longer limited to which California County you move to. Another concern for many clients was that Proposition 90 was not allowed in many Counties.  If you wished to keep your old property tax base, you had to be sure that the County you were moving to, allowed the tax transfer. With Prop 19, this concern was eliminated. Homeowners can now feel free to move anywhere in the State and keep their low property tax. 

You may utilize a Proposition 19 tax transfer up to 3 times. For many homeowners, this gives you the option of keeping your low tax base, even when you move more than once. As an example: a client might wish to move to a smaller home after they become "empty nesters". But years later, they may wish to move to a one level home or a home in a retirement community. With Prop 19, they can keep the low property tax basis of their first home, even after moving into their third replacement home.


Happy couple saving tax base

With so many Prop 19 advantages to keeping your existing low property tax rate, now may be the time for you to consider selling your home and buying your dream replacement home! 

Contact me now to discuss the current market value of your home and how I will help you sell it for the most money! I will be happy to provide you with a complimentary CMA (Comparative Market Analysis). This will compare your home to several recent sales in your neighborhood and give you a great idea of what your home is worth. As a consistent top producer at Realty One Group West, you will be in good hands working with me to sell your home. Also, to find that replacement home that you've been dreaming of!

 

   Ron Denhaan

Broker

Ronforhomes@gmail.com

DRE# 01728866

Ron Denhaan, Realtor


Article - Copyright 2021- CDC Technology, Inc.  All rights reserved

Fair housing Terms of use Privacy policy Facebook page

Bookmark this page! 

Bookmark this page
My blog Site map E-mail me