Proposition 19: California Voters Approve Measure Providing Tax Relief To Older Homeowners
LOS ANGELES (CBSLA) — California voters have approved Proposition 19, which sought to provide tax relief to homeowners who are seniors, disabled or the victims of natural disasters while scaling back inheritance tax breaks, the Associated Press projected Wednesday.
With 90.87% of precincts reporting, the measure was winning by a margin of 51.14% to 48.86% — a difference of 351,217 votes.
Prop. 19 will provide property tax relief for people who are over 55, disabled or disaster victims by allowing them to purchase a new home while continuing to pay property tax rates based on their previous residence.
It would also limit the tax break provided when a parent passes a home or property to an adult child.
