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0 points0xFACEFEED3y ago0 comments

Yea I guess that makes sense. Although inheritance is a change of ownership and the new owner would see the home re-assessed, no?

The other issue I see is that the deferment program is limited to very low income seniors (< $35k year or something like that). That's pretty low for a lot of places in the Bay Area which means not being able to go on road trips and do whatever it is seniors do in their twilight years.

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jdeibele3y ago

https://en.wikipedia.org/wiki/1978_California_Proposition_13

"1986 Proposition 58

Proposition 58 allowed homeowners to transfer their principal residence to children without a property tax re-assessment, as well as the first $1 million (not indexed to inflation) in assessed value of other real property."

Of course if the homeowner has more than one child it could get messy

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jdeibele3y ago

https://en.wikipedia.org/wiki/1978_California_Proposition_13

"1986 Proposition 58

Of course if the homeowner has more than one child it could get messy

j / k navigate · click thread line to collapse