If You’re Over 55, Take Advantage Of Prop 60/90

Did you know that you are allowed to transfer your tax basis one time only to a retirement home of lesser value, (if you close escrow on your primary home first, you may go within 5% over the sales price)? But the spirit of the proposition is to make it possible for retirees to downsize, and keep their taxes low as they rely on retirement income. The tax assessor’s website has more information.

http://tax.ocgov.com/tcweb/search_page.asp 


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