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 firstname.lastname@example.org HTTP://www.wendimae.com
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.