Ventura County CoLab Upcoming Prop 19 Event

Added by Carol Miller on January 7, 2021.
Saved under County, Geographies, Newsworthy, Press Releases, Ventura/Santa Paula/Ojai
Tags: Dan Goodwin, Lauren Sims, Upcoming Event, Ventura County Coalition of Labor Agriculture and Business, Ventura County Taxpayers Association

Please Join VC CoLAB as We Co-Host a FREE event with the Ventura County Taxpayers Association!

“Prop 19 – What Changed with Death and Taxes?” is a FREE event hosted on Zoom on Thursday, January 14th at 1:00pm. Ventura County Tax Assessor, Dan Goodwin, and partner at Ferguson, Case, Orr & Patterson, Lauren E. Sims, will discuss the recently passed Prop 19. Please CLICK HERE to register!

Background on Prop 19:

· 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.