Prop 19 passed in 2020 and eliminated a parent’s ability to leave real property to their children with their Proposition 13 taxes and tax base. Nearly all real property will be reassessed at its current fair market value when inherited, which of course, significantly increases property taxes in most cases (to learn more about Prop 19: please watch our webinar here: https://www.
I have personally seen Prop 19 have a negative impact on families and have watched children sell properties that have been in their family for many years because of the unaffordable tax increases.
In 2020, we collected signatures in my office to help repeal Prop 19. While my office and many other individuals and groups across the state collected 402,175 signatures– that was insufficient to make the November 2022 ballot.
Of course, we are going to try again!
A new vital ballot initiative (for the November 2024 ballot) is underway to “Repeal the Death Tax Act.” It simply restores the rights that Californians had for decades and then lost. The Repeal the Death Tax Act will also enable anyone whose property was reassessed due to a parent-child transfer to have the former base-year value under Prop 13 restored to their property again.
Click below to download the Petition, sign, and mail it. It must be signed with ink and paper – it is not electronic.
We can all work together to protect Prop 13 for our children!
If you have questions about Prop 19, Wills, Trusts, or estate planning
schedule a call with us here!
