A new bill that would defer implementation of Proposition 19 – a ballot measure that passed by a small margin in November – is designed to provide relief to families and businesses now facing unexpected tax bills.
Proposition 19 would force the reassessment to market value of property transferred within families, unless used as the new owner’s principal residence, Scott Kaufman, legislative director with the Howard Jarvis Taxpayers Association (HJTA) told the Northern California Record by email.
“Proposition 19 initiated the largest change to California’s property tax system since Proposition 13 while providing only three months for homeowners to consider what the resulting tax implications would mean for them and their children,” Kaufman said.
Click here to read the full article in the Northern California Record.
