Help Repeal the “Death Tax” – Proposed Ballot Initiative Will Fix Proposition 19

Help Repeal the “Death Tax” – Proposed Ballot Initiative Will Fix Proposition 19

In November 2020, California voters passed Proposition 19, which made changes to property tax benefits for families, seniors, severely disabled persons, and victims of natural disasters. These changes became effective in February and April 2021, depending on the component of the measure. Proposition 19, or the “Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act,” is a California Constitutional Amendment that imposes strict, new limits on property tax benefits for inherited family property.

Under Proposition 19

A child or children may keep the lower property tax base of the parent(s) ONLY IF the property is the principal residence of the parent(s) and the child or children make it their principal residence within one year. In other words, any other real property transferred to beneficiaries, including income properties and second homes, will be reassessed for property tax purposes. Before Proposition 19 passed, we could pass our principal residences and any other real property owned to our children without being reassessed for property tax purposes. The “Repeal the Death Tax” initiative will restore the right of parents to transfer their home and limited other property to their children without reassessment to market value and avoid increased property taxes.

Proposition 19 eliminated our ability to pass on real estate to our children or grandchildren without increased property taxes. Fortunately, an effort is being made to modify the impacts of Proposition 19. However, this effort needs your signature to make sure it gets onto the ballot.  Do your part. Click here to download the petition.  Print it from your own printer, and then sign it and mail it. Forward this information on and tell a friend.  Help get signatures so this initiative gets on the ballot, and then hopefully, we'll be able to pass along the family home (and other real estate) without a wasteful tax.

Support Our Advocacy Efforts

Are you tired of the constant barrage of new regulations that threaten the value of your real estate investment portfolio? You can help stop harmful, proposed regulations from moving forward by giving us the resources we need to defeat ill-conceived proposed new laws!  Please contribute to the AAGLA Isues PAC today.  Don’t delay!  Mail in your contribution today using the enclosed envelope.  Make your check payable  to:  Issues PAC of AAGLA, c/o Reed & Davidson, LLP, 515 South Figueroa Street, Suite 1110, Los Angeles, California 90071-3301; Attn. Cary Davidson, Treasurer, or contribute online at: www.aagla.org/IssuesPAC.  For more information call us at (213) 384-4131.