Benefits of aging are the senior discounts. One of the biggest boons to Los Angeles seniors is avoiding the tax man with the ability to transfer property taxes from one home to another. Of course restrictions to propositions 60 and 90 apply:
One of you must be at least 55
Your replacement home must be equal or less value; your current home and the replacement must both be your primary residence
This is a onetime shot and you must buy (close escrow) or complete construction of your replacement home within two years of the sale of the original property
Your LA County home can also be replaced for a home in these participating counties: Alameda, El Dorado, Orange, Riverside, San Diego, San Mateo, Santa Clara, and Ventura
Click here for more information regarding LA County’s Propositions 60 and 90
Related Post: Proposition 19 and its impact
