In California, many homeowners may want to sell their home, and move to another county. Although, they may decide not to, since it would make them subject to a higher tax rate on the new home. At the same time, for seniors there is a definite silver lining. In fact in 1988, voters passed Proposition 90. And, it allows anyone over the age of 55 to move outside their own county, and keep the same level of property tax on their new home. That said, the proposition also allows each county to adopt or opt out of the proposition. As a result, if you are among the 55+ crowd thinking of selling, it pays to see if the county you want to move to has adopted Prop 90. And, if you are looking at San Mateo County real estate, it’s under Prop 90. You can sell then buy another home at same tax level.
Seniors Can Sell Then Buy A Home at Same Tax Level Per Prop 90
San Mateo County is one of the largest and most sought after in California. And thankfully, it’s one of the most conducive to senior lifestyles. You need not worry that moving to a home there would be unwise. In fact, even if you live in the County and just want to move to another area of it, you’re covered. Prop 60 is a law in place since before Prop 90. It ensures your property taxes are not affected by a move in-county. Also, that goes for statewide. All counties must comply.
Great to know seniors, anybody over 55 can sell then buy a home at same tax level. And, they can do that, even if it’s in another county, provided the county adopted Prop 90. In fact, it pays to take a look at CA Prop 90 to make sure your area of choice falls under that law. As a result, the counties that do, include, Alameda, Orange Santa Clara, San Diego, Ventura, Los Angeles, San Mateo, Riverside, Tuolumne, San Bernardino. Although, talk with your realtor for full details.
A well-informed realtor will know the details and much more. And, a seasoned sellers agent will handle your real estate matter smoothly, start to finish. In fact, you can find both solutions and more, when it comes to San Mateo County homes for sale. You can find that with 5 Star Real Estate Agent, Carmen Miranda. If you’re planning to sell, why not give her a call today?