Senior citizens 55 years of age or older can buy a residence of equal or lesser value than their existing home and transfer the current taxable value to their new property. This provides property tax relief for seniors by preventing a tax increase if they sell an existing home in San Diego County and buy another.
This is a one time program, and you must buy and sell within two years. The properties must also be the principal place of residence. Finally you must file the necessary application with the Tax Assessor.
This program allows seniors to transfer their current taxable value into San Diego County even if they move from another county in California. The replacement residence must be of equal or lesser value than the original residence.
To the best of my knowledge, there are 9 counties that allow you to move in and keep your California tax base. They are:
Alameda, Orange, San Mateo, Los Angeles, San Diego, Santa Clara, Ventura, El Dorado, and Riverside.
So if you are moving from any of these counties, you can relocate here and keep your current taxes. That’s great news! Welcome to San Diego!
For more information, contact:
Gregory J. Smith
San Diego Prop 60 and 90 help desk (619) 531-5481
or (619) 531-6175