Effective November 20, 2014, 10 California counties will have property tax ordinances implementing the intercounty base year value transfer provisions for persons who are at least age 55 or are severely and permanently disabled. The counties are Alameda, El Dorado, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Mateo, Santa Clara, and Ventura. The latest county to be added was San Bernardino, which adopted an ordinance in October 2014 that applies to replacement dwellings that are purchased or newly constructed in the county on or after January 1, 2014. Be careful when deciding where to move because numerous counties do not honor the base year transfer.
If you or your client is at least age 55 and is considering whether to move to a new residence be sure to contact a property tax expert to make sure you don't lose your low property tax base. The Wilson Tax Law Group specializes in property tax and income tax matters. Please contact Joseph P. Wilson at 714-463-4430 if you have any questions.