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Burke Law PC

 

 

Since Proposition 13 passed in 1978, an entire body of law interpreting it has developed, affecting nearly all real estate transfers from ordinary sales of residential property, investment in and development of commercial and multi-family housing, ownership and management of agricultural property, and inheritances of all types of real estate and interests in legal entities holding real property. Over the years, California voters tweaked Proposition 13 by approving other ballot measures, most notably Proposition 58 (the parent-child exclusion) in 1986, Proposition 193 (the grandparent-grandchild exclusion) in 1996, and Propositions 60 and 90 (base year transfers), in 1986 and 1988, respectively. In 2020, voters approved Proposition 19, which eliminated many of the benefits of the parent-child and grandparent-grandchild exclusion while liberalizing the rules for base year value transfers. We will discuss the new "Prop 19" reality, the administrative and regulatory scheme under it, and why the old Propositions and their enacting statutes and promulgated regulations continue to be relevant.