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On November 3, 2020, California Proposition 19 passed with over 51% of the 15 million votes cast. Taking effect on April 1, 2021, the passage of Proposition 19 ushers in an unprecedented tax benefit for Californians aged 55 years and older. As you may recall from our earlier blog post “California Proposition 19: What You Need To Know”, an individual 55 years or older can take the...
PROPOSITION 19: WHY THE DELAY? Below is information received from LA County Assessor Jeffery Prang: "I am receiving more and mor...
Dear Reader, Golfing for a cause. Did you know the Crescenta Valley Chamber holds an annual golf tournament to raise scholarship funds for the two local High Schools? This event is terrific fun, so I try and play every year. This year I did something fun and interviewed the participants and several volunteers. Check out the videos. You'll enjoy the blooper reel involving a flying golf cl...
Proposition 19 will supersede the old rules which limited this exemption to the sale and purchase of a principal residence within the same county (Proposition 60) or between certain counties (Proposition 90) — but only if the replacement property was of “equal or lesser value” and only one time. In addition, it is a constitutional amendment to Proposition 13 that now...
Dear Friends, Hello! Welcome to February, It's time to catch up on things. As you know, housing is one of the most important aspects of life, whether you are a homeowner or a renter. So, in this letter, I'm sharing some of the latest news to help keep you up to date. On my home front, my mom is moving to North Carolina to live with my brother this month. If you have eve...
The cost of real estate city transfer tax and documentary transfer tax in Los Angeles, California, can vary depending on various factors, such as the value of the property and location. Real estate city transfer tax is a tax the city government imposes on transferring real estate property. This tax rate varies depending on the city and the value of the property being transferred. In Los Angele...
