Prop. 60 and 90 are Good for Seniors in Mobile Homes

admin — Thu, 18 Feb 2010 21:27:59 +0000

California’s Proposition 60 offers tax relief by preventing property reassessment when a senior citizen (55 +) sells their current home and buys a new home worth the same or less. One problem with Prop. 60 is that the tax relief is nullified if a senior buys a home in another county. However, with Prop. 90 a senior citizen will enjoy the tax relief even if their new home is in another county, as long as they move to a participating county.

It is important to know that there is an application process to qualify for the tax relief, it is not automatic. Within three years, the application must be submitted. The counties that are currently participating in Prop. 90 are: Alameda, El Dorado, Los Angeles, Orange, San Diego, San Mateo, Santa Clara and Ventura.

California Mobile Home Loans » senior

Prop. 60 and 90 are Good for Seniors in Mobile Homes