Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Homeowners who purchase a new primary residence are able to transfer the property's favorable assessment value due to Proposition 13 to a replacement property. Proposition 60 allows transfers within participating counties. Proposition 90 allows transfers between participating counties. Proposition 110 allows transfers both within and between participating counties. Base year transfers can only be used once in a lifetime. The exception to this rule is that claimants may transfer base year values under 110 if they have become severely and permanently disabled after transferring base year values under 60/90.
How is Benefit Disbursed
Eligible Property Type
Characteristics of Eligible Property
Only principal residences are eligible.
Property Value Limit
Description of Eligibility Criteria
Under Proposition 60, eligibility is confined to principal residences where at least one homeowner is aged 55 or older, the replacement property is of equal or lesser value than the original property, the replacement property was constructed or purchased within 2 years of the sale of the original property, and the county has an ordinance adopting the program. Proposition 90 eligibility holds under the same conditions except that the county where the replacement property is located must have an ordinance adopting the program. Proposition 110 eligibility requires that at least one of the homeowners is severely and permanently disabled. There are no age restrictions and all other criteria under 60/90 apply to 110. Base year transfers can only be used once in a lifetime. The exception to this rule is that claimants may transfer base year values under 110 if they have become severely and permanently disabled after transferring base year values under 60/90.
Local Option in Adoption of Program
Local government must take action to opt in
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Proposition 110 (Transfer of Base Year Value) [http://www.boe.ca.gov/proptaxes/faqs/propositions110.htm Accessed on 04/18/2017] View Archived Source