In 2020, California voters passed C.A.R. co-sponsored Proposition 19, which allows those who are 55 or older, persons with disabilities, and victims of wildfires greater freedom to transfer their property tax basis. This year, C.A.R. worked with stakeholders to ensure that the provisions of Proposition 19 would be properly and consistently implemented by supporting SB 539 (Hertzberg, McGuire, Allen), which was signed into law at the end of September.
SB 539 provisions touch on all aspects of the initiative including those relating to base year value transfers for eligible homeowners. It also clarifies definitions such as those relating to family farms and second units. These clarifications help ensure Proposition 19 is implemented consistently throughout California, as well as provide certainty to qualifying homeowners and owners of family farms. Lastly, SB 539 ensures that those who must implement the provisions, such as county recorders, have clear statutory guidance from the state’s taxing agency, the Board of Equalization.