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Old 09-24-2018, 06:03 PM
 
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If Prop 5 passes, homeowners age 55+ will be able to transport some of their Prop 13 tax benefits if they upgrade to a more expensive new home: https://ballotpedia.org/California_P...itiative_(2018)

Does anyone know when the purchase dates will kick in, should Prop 5 pass this November?

For instance, if I were to buy a new home before November, but sell the old home after November, can I claim Prop 5 tax benefits? Or would I have to buy and sell after November?

It's unlikely that I'll buy a new home before November. But I keep house hunting, and who knows if the right bargain appears.
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Old 09-25-2018, 06:37 PM
 
Location: TOVCCA
8,452 posts, read 14,985,517 times
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Doubt it would be retroactive. Most Propositions go into effect January 1st. Here's the official description:

https://lao.ca.gov/BallotAnalysis/Pr...er=5&year=2018
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