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CA SCA9
CA
AI Summary
- Amends California Constitution to allow transfer of base year value for property tax purposes to a replacement dwelling of greater value, effective for the 2016-17 fiscal year
- Requires the base year value of the more expensive replacement dwelling to be calculated by adding the difference between the original and replacement property values to the original base year value
- Maintains existing authority for persons over 55 years old and severely disabled persons to transfer base year value to replacement dwellings of equal or lesser value within the same county
- Applies to replacement dwellings purchased or newly constructed within two years of the sale of the original property
- Requires a two-thirds vote of each legislative house for passage and submission to California voters
Legislative Description
Property taxation: base year value transfers.
Last Action
From committee without further action.
11/30/2016
Committee Referrals
Elections and Constitutional Amendments1/13/2016
Governance and Finance1/6/2016
Rules8/18/2015
Full Bill Text
No bill text available