Vivre Real Estate August 25, 2023
Prop 19 is a significant change in San Francisco's real estate landscape, offering homeowners over the age of 55, those with disabilities, or victims of natural disasters the opportunity to move to a different home without a drastic increase in property taxes.
For those looking to downsize, Prop 19 allows the retention of the original tax base when moving to a home of equal or lesser value within California. This provision is particularly beneficial for empty nesters, making the transition to a smaller home more financially feasible.
Even if you're considering a move to a more expensive home, Prop 19 offers an adjusted tax rate. This rate is calculated based on the original tax base, providing a pathway to upscale without a corresponding upscale in taxes.
By facilitating the movement of homeowners, Prop 19 also addresses supply constraints in San Francisco's housing market. This initiative not only benefits individual homeowners but contributes to a more dynamic and accessible housing market for all.
For a detailed guide on Prop 19 and how it can help you downsize or move to a new home in San Francisco, visit our Prop 19 Guide from Vivre founder and top San Francisco listing agent Danielle Lazier.
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