Understanding Proposition 19: Real Estate & Tax Tips for Seniors
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Understanding Proposition 19: Real Estate & Tax Tips for Seniors
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In this insightful episode of The Senior Scoop, hosts Deborah and Kelsey Samuel of SB SOS sit down with Michael T. Daly, Chief Deputy at the Santa Barbara County Assessor’s Office, to break down the complexities of Proposition 19. This law significantly impacts property taxes, intergenerational property transfers, and downsizing for seniors in California.
Michael explains key aspects of Prop 19, including base year value transfers, primary residence requirements, and exclusions for seniors, disabled veterans, and disaster victims. The episode is packed with valuable guidance for Santa Barbara seniors, homeowners considering a move to senior living communities, and families planning estate transfers or managing family trusts.
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