Orange County, California - Savings for Seniors on Replacement HomeWhat is Proposition 60?
Prop. 60 was a constitutional amendment approved by the voters of California in 1986. It is codified in Section 69.5 of the Revenue & Taxation Code, and allows the transfer of an existing Proposition 13 base year value from a former residence to a replacement residence, if certain conditions are met. This benefit is open to homeowners who are at least 55-years old and are able to meet all qualifying conditions, (see below).How do I qualify for these property tax benefits?
Is it true that only one claimant, out of several co-owners of a replacement dwelling, need be at least 55 as of the…