Moving After 55? Prop 19 Could Save You Thousands

Thinking About Moving But Worried About Property Taxes? Prop 19 Might Be the Solution

If you’re 55 or older and have owned your home for a long time, there’s a good chance you’re sitting on a low property tax bill. That’s great—until you start thinking about moving. Whether it’s downsizing, getting closer to family, or just wanting something with less upkeep, the thought a higher tax bill can feel like a dealbreaker.

But here’s where Prop 19 comes in.

Making smart moves with Prop 19

What Is Prop 19?

Passed in California in 2020, Prop 19 lets homeowners 55 and older transfer their current property tax base to a new home—anywhere in the state. That means you can move without starting over at today’s higher tax rates.

Here’s how it works:

• You can buy a new home anywhere in California.

• If the new home costs the same or less than what you sell your current home for, your property taxes stay basically the same.

• If it costs more, you only pay increased taxes on the difference.

• You can use this benefit up to three times.

An Example (because numbers help):

Let’s say your current home has an assessed value of $400,000 but is worth $850,000 today. You want to move to a $750,000 home. You can transfer your $400,000 tax base to the new home—and that could save you thousands every year.

Why this matters:

Prop 19 gives people the freedom to move without the financial penalty. It’s especially helpful if you want to be closer to grandkids, need a more accessible home, or just want a change. And with more homes hitting the market this spring, it’s a great time to start planning.

Have questions? I’ve helped a lot of people figure this out—and I’d be happy to help you too, no pressure.

– Tracy Cheney – Helping people move with ease throughout Ventura County

DRE 02087767