How changes to California’s property tax system could affect reassessments

RIVERSIDE COUNTY – Changes are coming to Proposition 13, California’s paramount property tax limitation measure that caps taxable property value increases, and homeowners who are over the age of 55, disabled, or victims of a natural disaster stand to benefit the most. Transfers between family members will also be affected.On Nov. 3, California voters approved Proposition 19, the Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act. Proposition 19 is a constitutional amendment to Proposition 13 that expands the portability of a property owner’s tax base and limits benefits for individuals who inherit property from their parents or grandparents.“Proposition 19 introduces some very big changes to the California property tax
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