When you sell your primary home in California, you can exclude up to $250,000 of profit if you file single, or $500,000 if you are married filing jointly, as long as it was your main home for at least two of the last five years. Any gain above that exclusion is taxable, and here is […]
Capital Gains Tax When You Sell a Home in California Read More »
Proposition 19 allows California homeowners 55 or older to transfer their existing Prop 13 assessed value to a replacement primary residence anywhere in the state. The benefit can be used up to three times in a lifetime, and the replacement home must be purchased or newly constructed within two years of the sale of the
Prop 19 California: How to Transfer Your Property Tax Base Read More »
In Orange County, property taxes are prorated at closing based on how many days each side owned the home during the July 1 to June 30 tax fiscal year. If you’re buying or selling in Cypress, Buena Park, Anaheim, or anywhere else in OC, escrow calculates that split down to the day and shows it
Property Tax Proration Orange County: Who Pays What Read More »
