BRE Lic# 01061646

We Realtor representatives, myself included, were successful last Tuesday, at the County Board of supervisors meeting, to get a unanimous vote to adopt both Propostitions 90 and 110.  We will b speaking to the B.O.S. again tomorrow AM because the law does not allow them to only “run” the progam as a “pilot” for two years-which was previously proposed…so the B.O.S. must go back to the public to discuss adopting the program for a minimum of 5 years…I trust this decison too-will be a unanimous “YES” vote.

Details of the Propositions are listed below . For more information on this subject and any other RE: Real Estate  Phone Wendi-Mae Today, of Connect Realty.  Broker Associate, Director of the Califormia Association of Realtors, Real Estate Counselor , Toll Free 866-333-6333 wendimae@wendimae.com HTTP://www.wendimae.com

  • Proposition 60, which was passed with HJTA leadership in 1986, allows seniors to transfer the base
  • year value of their home when they sell it and buy another in the same county, provided they meet
  • certain conditions: (a) Both properties must be located in
  • Proposition 90, approved in 1988, also extends the transfer of assessed valuation to those moving
  •  into other counties within the state. However, participation by each county is voluntary and not
  •  many counties adopted Proposition 90. It is important to che
  • Please note that Propositions 60 and 90 provide a one-time exemption only.
  • The claimant and/or claimant’s spouse or any co-owner must not previously have been
  • granted the property tax relief provided by Section 69.5 of the Revenue and Taxation Code.

Proposition 13 prohibits property tax increases until property ownership is changed.

With the passage of Prop 90, homebuyers over the age of 55 can transfer their old

Proposition 13 value from their previous residence for moves from other counties to El Dorado County

 when a primary residence is replaced with a residence of equal or lesser value.

While the enactment of Proposition 90 may provide a benefit to a purchaser over the age of 55,

the law will have no negative impact on the seller.