Senior Citizens Tax Relief – Propositions 60/90

What are Propositions 60 & 90? They are initiatives passed by California voters that provide property tax relief to senior citizens by preventing reassessment when a senior sells his/her existing principal residence and purchases or builds a replacement residence that is of equal or lesser “current market value” to the original residence (being sold). This is a one-time only filing. Prop 60/90 relief cannot be granted if the claimant, or spouse, was granted relief in the past. The original principal residence must have been eligible for the Homeowners’ Exemption or entitled to the Disabled Veterans’ Exemption. There are other specific details and County option ordinances (for moving out of one county into a different county, for example). The seller of the residence, or a spouse residing with the seller, must be at least 55 years of age, as of the date the property is transferred. The replacement property must be purchased or newly constructed within two years (before or after) of the sale of the original property. For more detail, or to obtain claim forms, contact the County Assessor’s office in the county in which you reside.