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California Proposition 19 (2020), also referred to as Assembly Constitutional Amendment No. 11, is an amendment of the Constitution of California that was narrowly approved by voters in the general election on November 3, 2020, with just over 51% of the vote.[1][2] The legislation increases the property tax burden on owners of inherited property to provide expanded property tax benefits to homeowners ages 55 years and older, disabled homeowners, and victims of natural disasters, and fund wildfire response.[3] According to the California Legislative Analyst, Proposition 19 is a large net tax increase "of hundreds of millions of dollars per year."[4]
According to the ballot summary, Proposition 19:
- Allows homeowners who are over 55 years of age (without regard to wealth), disabled, or victims of natural disasters to transfer their existing property tax assessed value under 1978 California Proposition 13 to a replacement home, including a more expensive home.
- Significantly limits the existing property tax benefits under Proposition 13 for certain real estate transfers between family members, such as the transfer of property from a parent to a child following the death of the parent.
- Expands property tax benefits for family farm transfers.
- Allocates net state (but not local) revenues and savings (if any) to wildfire response and for reimbursing local governments. However, because the COVID-19 pandemic has created significant uncertainty for the state budget, the Legislative Analyst believes that the vast majority of the wildfire funding will not be available until 2025 at the earliest.[5]
The proposition was sponsored and heavily promoted by the California Association of Realtors, and became effective on February 16, 2021.[6][7]
- ^ Alpert, Adrienne (September 29, 2020). "What is Prop.19? Measure would change several facets of property tax rules in California". ABC 7. Retrieved September 29, 2020.
- ^ "California voters approve Prop. 19, giving new property tax breaks to older homeowners". Los Angeles Times. 11 November 2020. Retrieved 24 November 2020.
- ^ "California Proposition 19, Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment (2020)". Ballotpedia. Retrieved September 24, 2020.
- ^ Grimes, Katy (October 26, 2020). "Former CAGOP Chairman, Taxpayers Assoc. Employee Mislead Voters on Prop. 19". California Globe.
- ^ Dillon, Liam (October 19, 2020). "Who wins and who loses with California property tax measure Proposition 19". Los Angeles Times.
- ^ "Proposition 19 – Board of Equalization".
- ^ "A look at California's Real Estate Ballot Measures". 19 October 2020.
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