LAKE COUNTY — Two forms of property tax relief for seniors were discussed in Tuesday”s county Board of Supervisors meeting. One met with surprised approval, the other met with skepticism.
Dist. 4 Supervisor Anthony Farrington was the first to admit he hadn”t known about the county”s Proposition 60 program until one of his constituents brought it to his attention, and he wasn”t alone.
“We need to get the word out,” said Farrington.
County Assessor-Recorder Doug Wacker explained that the purpose of the program is to help seniors “downsize” in order to cut the costs of maintenance and utilities for a larger home. “Many seniors find it more comfortable to move into a smaller home once their children are grown,” writes Wacker in a memo to the board.
Adopted in Nov. 1986, Prop. 60 allows qualified people over age 55 to transfer an existing Prop. 13 base year value from one home to the next, as long as certain conditions are met. Wacker detailed the qualifications, which are as follows:
Both properties must be located in the same county.
The replacement dwelling must be of equal or lesser value than the original property.
The original property must have been eligible for either the homeowner”s exemption (owned, occupied and claimed as the principal residence at the time of sale or within two years of the acquisition of the replacement property) or entitled to the disabled veteran”s exemption.
The replacement dwelling must have been acquired or newly constructed within two years before or after the sale of the original property.
It must have been acquired or newly constructed on or after Nov. 5 1986.
The original property must be subject to reappraisal at its current “fair market value” as a result of its transfer.
A claim for relief must be filed within three years of the replacement date.
The second form of tax relief met with more dubious consideration. Proposition 90, adopted in 1988, extends those rights to seniors wishing to move from one county to another.
The only condition is that the county where the new property is purchased has to have an ordinance in place allowing its assessor to apply the value of the original home, Wacker explained.
Out of 58 counties in California, seven offer Prop. 90 relief. They include Alameda, Los Angeles, Orange, San Diego, Ventura, San Mateo and Santa Clara counties.
Lake County does not currently implement Prop. 90, and the consensus of the Board of Supervisors on Tuesday was that more information was needed. The body cited concerns about not being able to provide adequate infrastructure to the senior population the program would draw.
Lakeport resident John McGann argued that Prop. 90 would give the county a net gain of roughly $25 million to its general fund. “The infrastructure (in Lake County) is geared for people 55-plus of means coming to our county. Who would want to stop that?”
He further noted that the proposition would remove the stumbling block of increased property tax for a senior wishing to retire in Lake County.
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