Nancy Van Lanen, CTFA, EA Estate & Trust Director The recently passed Proposition 19 in California provides expanded property tax benefits by allowing homeowners who are disabled, over 55 years of age, or whose homes were damaged in wildfire or other natural disasters, to transfer their property tax base value to a replacement residence of any value anywhere in the state. This new law becomes effective on April 1, 2021. However, Proposition 19 limits the availability of the parent-child exclusion for purposes of real estate tax assessments. It now requires inherited homes that are not used by the child
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CA Proposition 19 and the Qualified Personal Residence Trust
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