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·     Proposition 19 passed in the November 2020 election 51% to 49%. 

·     Starting February 16, 2021, Prop 19 creates significant property tax changes for California property owners: 

1. Severely limits the conditions under which property owners can transfer California residential and/or commercial real property to their children/grandchildren without triggering a property tax reassessment; and

2. Expands the ability of certain persons to preserve and transfer the assessed value of their primary residence to a replacement primary residence.

·     In the past, parents could transfer certain real property to children without a property tax reassessment.

·     Prop 19 could negatively impact parents’ ability to pass along the family farm and ranch to children. 

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