A family member dying and passing the family home onto their child or grandchild should not be a taxable event. Prop. 19 allows property to be reassessed to market value when it passes from parents to children, resulting in a massive property tax increase so costly that children may be forced to sell family properties because they can’t afford the annual tax bill.
The CA State General Fund currently has a surplus of $45 billion so the state doesn’t need the grieving children of a loved one to pay taxes on a property inherited.
I am a local realtor opposed to the California Association of Realtors’ support for “The Death Tax” Prop. 19. To receive a petition to sign to get Prop. 93 and Prop. 58 reinstated by getting the ballot measure on the November ballot, email [email protected] at the Howard Jarvis Taxpayers Association or me at [email protected].