Tax Benefit Prop 60

Tax Benefit Prop 60
Homeowners Age 55 Plus

Tax Benefit Prop 60 – For Homeowners Age 55 Plus


Tax Benefit Prop 60

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 sold must be equal or higher in value than the replacement property.
  • Within 2 years of the sale of the original property, the replacement property purchased or newly constructed.
  • The original property must be subject to reappraisal at its current fair market value

If a California homeowner, 55+, is planning on their replacement property being of another county than they currently live, this would fall under the rules of Proposition 90. The participating California counties are currently:

  • Alameda
  • El Dorado
  • Los Angeles
  • Orange
  • San Bernardino
  • Riverside
  • San Diego
  • Santa Clara
  • San Mateo
  • Ventura

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