Bill > SCA4

This Constitutional Amendment, effective January 1, 2025, would revert property tax rules for certain family home transfers back to their pre-Proposition 19 status. Specifically, it would reinstate the prior rule that excludes from being considered a new "purchase" or "change in ownership" for property tax purposes the transfer of a principal residence (a home where someone lives) and the first $1,000,000 of value for other real property when these are transferred between parents and their children, or between grandparents and their grandchildren if the parents are deceased. This change aims to protect families from significant property tax increases when passing down homes, while also requiring the Legislature to actively publicize these changes, ensuring the information reaches minority communities, and to interpret and apply these provisions broadly to achieve their intended purpose.