Seniors in Los Angeles Can Save Thousands with Prop 60/90 When Buying a New Home.

Prop 60/90 are California initiatives meant to incentivize homeowners over the age of 55 to downsize by allowing them to take the same low property tax from their long-held home and transfer it to their new home (of course certain rules apply). This allowance can remove some hesitation from seniors who are nervous that their new property tax may be higher than what they are currently paying. In more detail, Prop 60/90 is a one-time use per household. Even if you use it when your spouse is under 55, once it's used, you are no longer eligible to use it again once your spouse turns 55. You can apply for Prop 60/90 up to three years after you have moved into your new residence. The replacement p

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