The Biggest Tax Law Change You Need to Know

The property taxes on your principal residence are based on the purchase price of the home back when you first bought it. The increase in those property taxes is determined by a piece of legislation called Proposition 13 that was passed by California voters back in 1978. In November 2020, California voters approved Proposition 19, which impacts property taxes for a specific segment of homeowners—those 55 years of age and older, those who are severely disabled, and those who were victims of wildfires. To find out how this change in law can save you a bundle of money in property taxes every year, watch this short video.

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