Author's Summary
A third push seeks to overturn Proposition 19's heavy tax reassessment on inherited properties by targeting California's 2026 ballot, spotlighting heir struggles from the measure's slim 51% approval. (148 characters)
Background on the Initiative
The third effort aims to repeal the tax burdens imposed by Prop 19 on inherited property, with organizers eyeing the 2026 ballot. Experiences of various heirs underscore troubling issues with Prop 19, passed narrowly by 51% of voters. This reflects ongoing pushback against the proposition's impact.
Prop 19's Key Effects
Prop 19 ended prior exclusions like parent-child transfers without reassessment. Now, heirs face market-value reassessments unless they meet strict conditions, such as using the home as primary residence within one year. Limits apply, like $1 million above the original assessed value, hitting vacation homes and rentals hardest.
The experience of a number of heirs highlights unsettling questions about Prop 19 that was narrowly approved by 51% of ...
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