Your Real Estate Expert for Berkeley and Beyond
“Marilyn is exceptional. Her knowledge base, enthusiasm for her job, professional ethics, organization, sensitivity to our aesthetic requirements, loyalty and gentle perseverance set her apart.”
-- Bill and Carol Seidel
Marilyn Garcia, PhD
Broker Associate, Realtor®
DRE# 02014153
District Homes
1758 Solano Ave.
Berkeley, CA 94707
Direct:
(510) 390-5406
REAL ESTATE ANSWERS: How are property tax assessment transfer rules changing due to Prop. 19?
How are property tax assessment transfer rules changing due to Proposition 19? If you are one of the many people in California who at some point considered moving but decided not to because your property taxes would increase sharply, you could be in luck now. Proposition 19, which passed in the last election and goes into effect April 1, 2021, allows a homeowner who is 55 or older, severely disabled, or whose home was substantially damaged by wildfire or natural disaster to transfer their property tax assessment to a new replacement home with fewer restrictions than is currently the case. [...]
REAL ESTATE ANSWERS: What’s changing as a result of the Berkeley measures on the 2018 ballot?
There were 2 local measures on the November 2018 ballot that were approved by voters that will impact local real estate going forward. The first was Measure P, which passed with 72% of voters saying yes. Measure P increases the Berkeley city transfer tax on property sales at prices over $1.5M, from 1.5% of the sale price, to 2.5%. Property sales at prices of $1.5M or less will still be taxed at the old rate of 1.5%. The measure says that the funds raised are intended to be used for “general municipal purposes such as navigation centers, mental health support, [...]