Repeal the Death Tax logo

Proposition 19 Repeal Efforts Fall Short For November Ballot Initiative 

  • May 8, 2022
  • devinlucas

Efforts to repeal Proposition 19’s costly Death Tax On Inherited Property have fallen short for the November ballot initiative. Over 402,000 signatures were obtained to repeal those provisions of Prop 19 which wiped out former Propositions 58 and 193 (those propositions allowed parents to transfer their ‘prop 13 basis’ or ‘proposition 13 basis’ to their children; now no longer due to Prop 19’s changes, thus causing a substantial ‘death tax’ on California inherited property).

Hourglass next to a calendar

What Happens If I Cannot Meet the One Year Deadline to Move In and File the Claim for Homeowners’ Exemption Under Prop 19?

  • April 18, 2022
  • devinlucas

The answer to this critical question is in FLUX.  The official answer, detailed below, is that the one (1) year deadline is firm, with no exceptions.  HOWEVER, as of April 1, 2022, the BOE has used its “Emergency Powers” to enact a common sense answer to this question (allowing additional time to file a claim for Homeowners Exemption, with caveats).  

Navigating New California Proposition 19: Its Dramatic Property Tax Increase on Inherited Property and Added Benefits to Portability For Those 55 and Older

  • November 29, 2021
  • devinlucas

Editorial Summary

California Proposition 19 is a massive property tax hike on the next generation of property owners. It wipes out the current Proposition 58 and Proposition 193 family transfer benefits, effective February 16, 2021. This is potentially the largest property tax increase in California history… but it will only impact the next generations; this is a new death tax and inheritance tax on real property owners’ heirs.

wallet of cash into the hands of Uncle Sam

2018 Tax Reform – Key Impacts on California Real Estate

  • June 15, 2018
  • devinlucas

Newport Beach, Costa Mesa, Orange County and all California homeowners – and potential homeowners – have some significant tax changes to consider and plan for in 2018. H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on December 20, 2017, contains a large number of provisions that affect … Continue Reading