Tax-Saving Prop. 90 Finds Few Counties in Support
Twenty-eight of the state’s 58 counties have now voted against implementing Proposition 90, which allows homeowners 55 or older to transfer Proposition 13 base-year values of their principal dwellings to new residences of equal or less value in other counties.
Proposition 90, which was approved by voters in 1988, gives local agencies the power to accept or reject the inter-county transfer of values, which preserves tax savings for anyone who owned a house when Proposition 13 was enacted in 1978.
For the record:
12:00 a.m. June 2, 1991 For the Record
Los Angeles Times Sunday June 2, 1991 Home Edition Real Estate Part K Page 12 Column 2 Real Estate Desk 2 inches; 61 words Type of Material: Correction
Key element--An article on Proposition 90 in the May 19 Real Estate section incorrectly stated a key element of the tax-saving measure. Homeowners who are 55 or older and are selling their homes may transfer their current property tax bases to homes purchased in counties accepting Proposition 90, regardless of when the original home was purchased, provided the new home costs the same or less than the sale price of the old home.
Since last July, Calaveras, Lake, Merced, Shasta, Siskiyou and Trinity counties have joined such popular retirement destinations as San Luis Obispo, Placer and Nevada counties in voting against Proposition 90. Twelve counties have voted in favor of it.
To qualify for a value transfer, the replacement dwelling must be purchased on or after the date a county makes Proposition 90 effective.
Counties that have rejected Proposition 90 are Butte, Calaveras, El Dorado, Fresno, Lake, Madera, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Placer, Sacramento, San Benito, San Bernardino, San Luis Obispo, Santa Barbara, Santa Cruz, Shasta, Siskiyou, Solano, Sonoma, Stanislaus, Tulare, Trinity, Ventura and Yolo.
Counties that have implemented the initiative are Alameda, Contra Costa, Inyo, Kern, Los Angeles, Marin, Modoc, Orange, Riverside, San Diego, San Mateo and Santa Clara.
The remaining 18 counties, including San Francisco, have neither rejected nor implemented the proposition. There is no time limit on implementing it, and counties can elect to take no action.
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