
California lawmakers, county assessors search readability, prolong on Prop. 19 provisions
Two California senators and the state’s 58 county assessors are in search of explanation at the implementation of a brand new assets tax measure, they usually’re hoping to prolong a provision that makes it extra pricey for kids to inherit some houses from their oldsters.
Proposition 19, narrowly authorized by means of electorate in November, took impact Feb.16. It permits California house owners who're over the age of 55, disabled or sufferers of herbal screw ups to switch their current assets tax base to a substitute house within the state, although the brand new house is costlier.
However tucked throughout the invoice is a provision that repealed Prop. 58, a 1986 constitutional modification that stated oldsters may just switch possession of any house to their kids with out a alternate...