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California voters give property tax breaks a makeover

Courtesy of MGN

California voters gave the state’s landmark 1978 law to limit property taxes a makeover Wednesday, passing a measure that gives exemptions to older homeowners, the disabled and wildfire victims and strips breaks from people who inherit homes but don’t live in them.

Posted: Nov 12, 2020 8:21 AM

SAN DIEGO (AP) - California voters have approved a makeover to the state's landmark 1978 law to limit property taxes.

Vote count updates Wednesday showed Proposition 19 was approved with 51% support.

The measure allows homeowners 55 and older, the disabled and wildfire victims to carry low property tax rates with them when they move. But it also strips property tax breaks from people who inherit property.

It is a big victory for the California Association of Realtors, which made major changes to a similar initiative in 2018 that voters rejected by 20 percentage points

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