Transfer of Tax Basis - Alameda County
October 2019 | Vol. 1 | Issue 3 Did you know that it may be possible to keep your property tax value when you sell your principal residence and replace it with another home (i.e. no increase in property tax base)? Individuals age 55 and older can transfer the property tax base value on their current principal residence to a replacement dwelling located in Alameda County or in certain other California counties. Facts about Property Tax Base Value Transfers (pursuant to CA R&T Code 69.5): The original property must be your principle place of residence at the time of its sale. The replacement property can be purchased within two years (either before or after) of the sale of the original property. You must be age 55 or older when you sell your original residence. For properties with more than one owner, only one of the owners residing at the property must be age 55 or older to qualify for this benefit. This is a one-time benefit with the sole exception that if you received relief fo...
