**Attention Parents and Grandparents**: Prop 19 Eliminates Parent Child, and grandparent-grandchild exclusion from Property tax reassessment, and the deadline is February 15th to make any transfers under current tax law.Happy Tips Tuesday. Last week we discussed the benefits of Prop 19, this week we discussed the contentions part of Prop 19 that will affect a lot of people when inheriting a loved one’s property. As parents or grandparents, when we want to pass on wealth to our children to help set them up for a better life, the last thing we want to do is pass on inadvertently a hefty property tax hike, ion which if they held onto the family estate, could make them responsible to cough up $10’s of thousands of dollars each year just to cover the taxes, forcing many to have to sell.Check out this week’s video for some quick info on the new passed law. There may be something you can do but you need to acti quickly.
Prop 19! Attention Parents and Grandparents.
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