Navigating Prop 19: A Guide for Senior Homeowners

By Burt Tsuei

A Realtor with 20+ Years of proven track record of high quality service in the San Mateo County/Bay Area. A lifelong Bay Area resident, Burt works with buyers and sellers from Pacifica to South San Francisco to Redwood City and beyond. Burt is passionate about selling real estate in the mid-peninsula, and inspired by his clients’ goals and dreams. No matter what your unique needs are, whether you’re transitioning from city living or stepping up to a larger home, his mission comes straight from the heart: to protect your best interests and make your experience seamless.

As many baby boomers are beginning to contemplate downsizing, it’s crucial to consider the implications of Proposition 19. Passed in 2020, this proposition holds significant benefits for homeowners over the age of 55 in California.

Proposition 19 allows homeowners who are 55 years or older to sell their primary residence and transfer their current property tax assessment to a new home within California. This transfer can result in substantial savings on property taxes, which can be a key factor in deciding whether to move within the state or relocate elsewhere.

For those considering a move out-of-state, it’s important to factor in the potential benefits of Prop 19. The proposition could save thousands of dollars annually in property taxes, making a move within California potentially more financially beneficial than relocating to another state.

Before making any decisions about moving, especially if you’re considering leaving California, it’s advisable to conduct a thorough cost of living analysis. This analysis will help determine whether staying within the state under Prop 19’s benefits is the right financial decision for you.

If you’re a baby boomer planning to downsize and are curious about how Proposition 19 could affect your decision, feel free to reach out. I’m here to provide guidance and help you conduct a detailed cost-of-living analysis, ensuring that your next move is in your best financial interest. Let’s explore your options together and make an informed decision about your future residence.