All Forum Posts by: Karen Bruck

I am 100% behind what you are saying. Prop 19 needs to get back on the ballot to be voted out. It should never have happened. Have passed around petitions and continue to pass the info on. Thank you. 

I appreciate your input. Thank you. 

Update to Prop 19 From Howard Jarvis Group. Please read and help if possible...

The Howard Jarvis Taxpayers Association sent out this news

release today following the defeat of SCA 4 in the Senate

Governance and Finance Committee. If you are interested in

volunteering to help collect signatures to get the "Repeal the

Death Tax" initiative on the ballot, please visit

www.RepealTheDeathTax.com ... sign up to volunteer.

We'll be filing the initiative soon, and signature collection will

begin when the measure is approved for circulation, which

takes about two months. Thank you!
 ___________________________




For immediate release
 May 10, 2023


HJTA announces initiative to “Repeal the Death Tax”


reassessment to market value.
 


The Howard Jarvis Taxpayers Association, California’s

leading taxpayer advocacy group, will go forward with an

initiative to restore the right of parents to transfer their home

and limited other property to their children without

The announcement follows the 3-4 vote in the Senate

Governance and Finance Committee Wednesday to defeat

Senate Constitutional Amendment 4, authored by Sen. Kelly

Seyarto, R-Murrieta, which aimed to reverse the provisions

in Proposition 19 regarding intergenerational transfers of

family property. Under Prop. 19, which passed narrowly in

November 2020, property is now reassessed to market

value upon transfer between parents and children, with

limited exceptions.


Thank you! 

Hello everyone.

First time question but have been helped many times with the great advice found on this website.

My Mother's house is located in San Diego, CA. When she passes, the house will be left to 4 adult children, but with the passing of Prop 19 on April 1, 2021, 1 of the 4 children will have to claim it as their primary residence to keep my mother's tax basis. We have always figured that we would keep the house and eventually turn it into a rental, splitting it 4 ways, but now with Prop 19, my brother would be the one claiming it as his residence. (Still not exactly sure where that leaves the other sibling's inheritance, and honestly, I'm not too sure that there is a clear answer for that.) My question is, if I wanted to invest in the house when it becomes a rental, assuming that my brother would need to live in it for 2 years, could I then use a 1031 exchange to do so? I would be buying out 2 of my sibling's portions, leaving me with 3/4 ownership. I would be using the full amount of the exchange plus adding cash to cover the amount owed. 

Thank you in advance for your vast helpful and vast knowledge.