Voters in the 2020 General Election approved Proposition 19, a Constitutional amendment that changes certain property tax rules. Of greatest interest to CCA members are the provisions of Proposition 19 which change how parent-child or grandparent-child property transfers operate. Intended to limit tax benefits for transferees who use inherited property as a vacation or rental home rather than as a primary residence, Proposition 19 also impacts ranchers transferring the “family home” or “family farm” to their children or grandchildren.
In the months since Proposition 19’s passage, CCA has received numerous questions from concerned members seeking to better understand Proposition 19. And there’s good reason for this confusion and concern, as Proposition 19 is ambiguously written in many respects and has even resulted in contradictory interpretations from the California State Board of Equalization. To clear up some of this confusion, CCA will be hosting a FREE Proposition 19 discussion on Tuesday, February 2 at 7:00pm (in advance of the transfer provisions’ effective date of February 16).
During the discussion, CCA staff will seek to clarify what tax provisions Proposition 19 does and does not alter, resolve some of the rumors and confusion surrounding the Proposition and outline legislation and regulation needed to implement and clarify the Proposition (and how CCA is engaging in those efforts).
The discussion will be held over Zoom and is available only to current CCA members. To participate in the meeting, please register below.
New to Zoom? Visit calcattlemen.org/event/prop19 to download our step-by-step guide on how to join a Zoom meeting.