California homeowners get property tax options at 55
California homeowners can use Proposition 19 after age 55 to move and carry over a lower property tax base. The rule can affect retirement moves for Los Angeles area owners facing high home prices.
At age 55, a California homeowner may qualify to move the property tax base from a primary home to another home in the state after a sale. Proposition 19 lets eligible owners use the transfer up to three times, with price limits determining how much of the old tax base carries over.
That option can make downsizing or moving within California less costly for older owners who would otherwise face a new assessment. At 55, some people also become eligible for age restricted retirement communities and senior discounts from selected businesses and service providers.