One main obstacle for retirees relocating out of the area is the increase to their prop. 13 property taxes they will likely encounter. That could be a major drawback for someone who pays less than $100 a month in property taxes and lives in a home valued over $500K. If they were to relocate and buy a home worth $300K, they would likely see their property taxes quadruple. That’s why prop. 60 and prop. 90, which allow the transfer of Prop. 13 values to other primary residences were enacted to basically get people moving and not confined to their homes. The downside is that not all counties participate in prop. 90, but now El Dorado County does.
On December 15, 2009, El Dorado County’s Board of Supervisors approved prop. 90 for inter-country property tax transfers. Essentially allowing seniors or anyone 55 and older moving to El Dorado County to transfer their prop. 13 values to a replacement primary residence.
- Prop. 60 & 90 Santa Clara County
- Proposition 90: Inter-County Tax Base Transfer
- Proposition 8 Temporary Assessment Relief, More Information
- Santa Clara County Assessment Appeals Board, Sham or Not?
- Santa Clara County Home Inventory