Orange County Real Estate News

Tax Benefit Prop 60Homeowners Age 55 Plus Tax Benefit Prop 60 - For Homeowners Age 55 Plus Tax Benefit Prop 60 is a constitutional amendment that the voters of California approved it in 1986. Prop 60 allows a home seller to transfer their existing Prop 13 base-year value from the home they're selling to their replacement property in the same county. Homeowners may take advantage of this one-time tax benefit it they meet all the following qualifying conditions, may be not limited to, please see tax assessor directly for up-to-date information. As of the date of the transfer, the seller or spouse must be at least 55 years of age.The sold property must have been eligible for the Homeowners' exemption or entitled to the Disabled Veterans' Exemption.The property sol...