Prop 60/90 - Property Tax Breaks for Seniors - Selling and Buying Orange County Real Estate

Posted by Danielle Dani Purcell on Wednesday, March 27th, 2013 at 1:29pm.

Prop 60/90 - Property Tax Breaks for Seniors - Selling and Buying Orange County Real Estate

What are the elibibility requirements for Prop. 60/90?

California property owners who are over 55 years of age may qualify to transfer the assessed value of their principal residence sold in County "A" to their new principal residence in County "B".

A copy of the tax bill from the other county and a copy of the applicant's birth certificate will be required by the County Assessor to be included in the application.  A Copy of the grant deed for the new purchase along with a copy of the closing statement of both the sale and purchase are also required.

Here is a short summary of the eligibility requirements...

  • Either the seller, or a spouse residing with the seller, must be at least 55 years of age when the orginial property is transferred.
  • The replacement home must be of equal or lesser "current market value" than the original property.
  • The replacement property must be purchased or built (newly constructed) within two years (before or after) the sale of the original property.
  • An application must be filed by the owner within the three years following the purchase date, or completion date of new construction, of the sale of the original property.
  • The filing is a one-time-only opportunity.  Prop 60/90 cannot be granted if the claimant, or spouse of the claimant has already been granted this relief in the past.
  • Prop 60/90 relief includes, but is not limited to: single family residences, condos, units in planned unit developements, cooperative housing, corporation units or lots, community apartment units, mobile homes subject to local real property tax, and owners' living premises which are a portion of a larger structure.
  • You, the taxpayer, are not eligible for this relief until you actually own AND occupy the replacement property as your principle residence.

It is essential for you to call the co-operating County to which you wish to relocate.  You will want to verify that they are currently accepting the value transfer under Prop 90 and what their particular requirements are.  For any further questions, the property tax office in Sacramento for all counties in California can be reached by calling (916) 445-4982.

 Counties can and should be verified by calling the appropriate number...

  • Alameda - (415) 272-3755
  • Orange - (714) 834-2746
  • San Diego - (619) 531-5507
  • San Mateo - (415) 363-4500
  • Los Angeles - (213) 974-3101
  • Santa Clara - (408) 299-4347
  • Ventura - (805) 654-2181
Hope You Found This Information Helpful!

Thank You,

Danielle Purcell
Team Laguna Real Estate
Owner/Broker
01063725
949-874-1187

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