Prop 19 Is Coming Soon: Know How It Could Impact Estate Planning For Your Farm & Ranch
San Luis Obispo County Farm Bureau Hosting Webinar With Local Tax Experts
- Tom Bordonaro, San Luis Obispo County Assessor
- Joe Benson, Attorney with Carmel & Naccasha LLP in San Luis Obispo
- Paul Clark, Attorney at Law in Paso Robles
- Brent Burchett, Executive Director at San Luis Obispo County Farm Bureau
Free educational webinar for Farm Bureau members (and future members)
- Proposition 19 passed in the Nov. 2020 election 51% to 49%.
- Starting February 16, 2021, Prop 19 creates significant property tax changes for California property owners:
- (A) severely limits the conditions under which property owners can transfer California residential and/or commercial real property to their children/grandchildren without triggering a property tax reassessment; and
- (B) expands the ability of certain persons to preserve and transfer the assessed value of their primary residence to a replacement primary residence.
- In the past, parents could transfer certain real property to children without a property tax reassessment.
- Prop 19 could negatively impact parents’ ability to pass along the family farm and ranch to children.
Webinar held via Zoom. Register at slofarmbureau.org