Important Notice: Effective April 1, 2021, Proposition 19 provisions potentially affect the former base year value transfers for persons age 55 and over that were added by Propositions 60 (1986) and 90 (1988). Please visit the Proposition 19 webpage for more information on the operative base year value transfers for persons age 55 and over.
Persons aged 55 and older or severely disabled persons of any age may transfer the Proposition 13 factored base year value of their principal residence to a residence acquired or built as its replacement under certain conditions (reference Prop 60 and Prop 90, Revenue and Taxation Code 69.5).
Principal Residence Intra-County Base Year Value Transfers (Proposition 60)
Property owners of at least 55 years of age may transfer the Proposition 13, factored base year value of their principal residence to a replacement principal residence. The replacement must be of equal or lesser current market value and located within the same county.
Severely Disabled Principal Residence Base Year Value Transfers (Proposition 60 & 90)
Severely and permanently disabled persons of any age who meet certain specific requirements may also transfer the base year value of their principal residence to a replacement dwelling of equal or lesser current market value. Note that the form for age-55 base year transfer filing is different from that used for the severely disabled transfer benefit.
The California Board of Equalization has also provided a useful discussion regarding Proposition 60 and Proposition 90 Exclusions.