REAL ESTATE
Ask Ponytail
Top 1% Agent in East Bay
What Proposition 19 Means to You and Your Family
YOUR LOCAL MARKET UPDATE
On November 3, 2020, California voters approved Proposition 19, titled the Home
Protection for Seniors, Single Severely Family Disabled,Home Sales Families Q2 2021 and vs Q2 Victims 2020
of Wildfire or Natural
Disasters Act. Proposition 19 is a constitutional amendment that has several AVERAGE different
DAYS
provisions affecting different parties, HOME including SOLD wildfire victims and severely disabled
people, seniors looking Q2 2021 to relocate VS Q2 2020 within Q2 2021 California,VS Q2 2020 and Q2 children 2021 or VS Q2 grandchildren 2020 Q2 2021 who VS Q2 2020
will
eventually inherit property.
$ 1,326,000.00 41% 65 67% 131% 22% 18 -33%
Current law allows a primary home to be transferred – by sale, gift, or inheritance -
between parents and children, and between grandparents 4% and grandchildren, without
$755,000.00 30% 25 111% 8% 14 8%
reassessment, and other types of properties, such as a vacation home, rental or
commercial property, to be transferred with the first $1 million exempt from reassessment.
$621,000.00 17% 40 67% 107% 5% 13 -46%
Under Proposition 19, these tax breaks will be limited with fewer tax savings
opportunities.
$920,000.00 22% 45 80% 111% 11% 10 -62%
Proposition 19 will allow homeowners who are over 55 years of age, disabled, or
victims of a wildfire $794,000.00 or natural 25% disaster 53 to sell 89% their 111% primary residence 9% and 12 transfer
-29%
its assessed value to a replacement primary residence in any county in California up
to RICHMOND
three times.
$724,000.00 15% 203 36% 115% 11% 15 -35%
For more information, please visit: www.AskPonytail.com/prop-19
$1,743,000.00 35% 22 69% 134% 23% 11 -31%
*Consult with an attorney/accountant to confirm how your circumstances apply to the new laws. Prop-19
comes with limitations and these statements are intentionally broad*
Source: MLS (All information is deemed reliable but not verified or guaranteed.
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MEDIAN SALES PRICE
29
REAL ESTATE
Ask Ponytail
Top 1% Agent in the East Bay
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