Many homeowners are surprised to learn how Proposition 19 changed the rules for downsizing and inherited property.
👉 Find Out How Proposition 19 May Affect Your Property Taxes
Many homeowners reach out simply to understand their options before making any decisions.
(Call or text Eddie Lam at 650-980-9819)
👉Most homeowners are not making decisions right away — they simply want to understand their options first.
👉Eddie Lam has been helping Bay Area homeowners since 2008.
If you’ve owned your home for many years, you may have a very low property tax base.
But many homeowners hesitate to move or pass their home to their children because of one concern:
👉 “Will property taxes go up if I sell or transfer my home?”
A law called Proposition 19 changed how property taxes work in California.
Depending on your situation, it may:
✔ Create new opportunities
✔ Or result in unexpected tax increases
Many homeowners are reviewing their options before making decisions.
👉 Want to understand how this specifically applies to your property?
Call or text Eddie Lam at 650-980-9819 for a quick review.
Downsizing Without Losing Your Low Property Tax
If you are age 55+, Proposition 19 may allow you to:
- Sell your current home
- Buy another home anywhere in California
- Transfer your existing property tax base
This means you may be able to move without losing your low property tax.
Some homeowners use this to:
- Move closer to family
- Downsize to a smaller home
- Relocate within California
Because timing and pricing matter, many homeowners choose to review their situation before making a move.
👉 Considering downsizing? It may be helpful to review your options first.
Call or text Eddie Lam at 650-980-9819
What Happens When Children Inherit a Home?
Before Proposition 19, children could often inherit a home and keep the same property tax base.
Today, the rules are different.
👉 If the home is not used as the child’s primary residence,
👉 The property is typically reassessed to market value
This can significantly increase property taxes.
Many families are surprised by how much property taxes can increase after inheritance.
👉 Even small decisions about timing or ownership can impact property taxes for the next generation.
Because of this, many homeowners are reviewing their options before transferring property.
👉 Want to understand how this may affect your family?
Call or text Eddie Lam at 650-980-9819
A home with an assessed value of $250,000 may have a market value of $1.5 million.
For example:
A home with an assessed value of $250,000 may have a market value of $1.5 million.
If reassessed, the property taxes could increase significantly.
Even small decisions around timing or ownership structure can affect property taxes for the next generation.
👉 Many homeowners reach out simply to understand their options before making any decisions.
Call or text Eddie Lam at 650-980-9819
What Are Your Options Moving Forward?
Some homeowners choose to:
- Have a child move into the home
- Sell the property and divide the equity
- Downsize earlier to simplify estate planning
Each situation is different.
Before Making Any Decision, It May Help to Review Your Options
If you are considering downsizing or planning how to pass your home to your children:
👉 Call or text Eddie Lam at 650-980-9819
Many homeowners simply want clarity before making a decision.
Eddie Lam is a licensed real estate agent with eXp Realty of California (DRE 01845234).
👉Some homeowners choose to explore selling options after reviewing their situation.