Common questions

No. 55 or older is one of three ways. The others: severely and permanently disabled, or a wildfire or governor-declared disaster victim. One is enough, tested on the day the old home sells.

No. Above the limit for your timing, the old taxable value still moves over and the amount above the limit is added to it.

Yes, if the sale happens within 2 years of the purchase. BOE: you pay full-value tax on the new home from purchase until the old one sells, with no refund for that period.

Up to 3 times in your life, even if you used the older Prop 60/90 transfer before.

With the assessor of the county where the new home is, after both deals close and you live there. Escrow does not file it. Deadline: 3 years from buying or finishing the new home.

Late claims are still accepted, but relief starts only in the calendar year you file.

Yes. It is required on the claim form (used to enforce the 3-transfer limit) and the claim is confidential.

Attach the old home's latest property tax bill and any supplemental bills issued before the sale.

No. It only has to be your principal residence (eligible for the homeowners' exemption) when you sell. BOE FAQ 7.

Yes. You need not be the sole owner of the new home. BOE FAQ 9.

Yes, if you own it and live in it as your principal residence. BOE FAQ 10.

No. Capital gains, Mello-Roos and special assessments are separate. Talk to a CPA.

A separate rule: the home must become the heir's principal residence, with the homeowners' exemption filed within 1 year. It is capped at the parent's taxable value plus $1,044,586.