Proposition 60 and 90 are property tax savings programs, passed by voters in 1986 and 1988 respectively, for homeowners age 55 or better who sell their home and buy another of equal or lesser value. It allows the taxable or assessed value of the original home to be transferred to the replacement home, preventing an increase in property tax due to the relocation. Proposition 60 allows for intra-county transfers (sell a home in Riverside County, purchase a home in Riverside County). Proposition 90 allows for inter-county transfers (sell a home in another California county, purchase a home in Riverside County).
• Homeowners must be age 55 or better (For married couples, only one spouse must be 55 or better to qualify.)
• Homeowners must sell their former residence within 2 years of purchasing the replacement property
• Both the former and replacement properties must be the owner’s primary residence
• The market value of the replacement property must be equal to or less than the market value of the former residence
For more information and to apply for Proposition 60 or 90, please contact the County Assessor at www.asrclkrec.com or (951) 955-6200.