Thinking about trading your Oak Park home for more space, a new neighborhood, or a fresh floor plan, but worried about a big property tax jump? You are not alone. Many local homeowners hesitate to move because they do not want to lose their lower tax base. The good news is that California’s Prop 19 can help you transfer much of your current assessed value to your next primary home. In this guide, you will learn who qualifies, how the math works, what to file, and practical tips for moves within Ventura County or across to Los Angeles County. Let’s dive in.
What Prop 19 changed
Prop 19 lets eligible homeowners transfer their “base year” assessed value from a sold primary residence to a replacement primary residence anywhere in California. This can ease the property tax impact when you move, even if you buy a more expensive home. For background on statewide property tax rules, review the California State Board of Equalization’s property tax resources and overviews from the Legislative Analyst’s Office.
- Learn more from the California State Board of Equalization’s property taxation resources: California BOE
- For statewide context and analysis, see the Legislative Analyst’s Office
Who qualifies and key limits
To use Prop 19 portability, you must sell a primary residence that was eligible for the homeowner’s exemption or disabled veterans’ exemption and then buy a replacement primary residence.
Eligible groups include:
- Homeowners age 55 and older
- Severely disabled homeowners
- Victims of wildfire or other natural disasters (special rules apply)
Important limits and timing:
- You can transfer your base value up to three times in your lifetime if you are 55+ or severely disabled. Disaster-related moves may have additional flexibility.
- You must buy or build the replacement primary residence within two years before or after the sale of the original qualifying home.
- The replacement home can be anywhere in California.
- The replacement must become your primary residence.
- Second homes and investment properties do not qualify.
Special situations like spousal or co-owner arrangements, surviving spouse rules, and disaster-related provisions vary. County assessors offer procedural guidance. For local instructions and forms, start with the Ventura County Assessor and the Los Angeles County Assessor.
How the new assessment is calculated
Here is the plain-English version of how assessors apply your transferred value:
- If your replacement home’s value is equal to or less than the sale price of your original home, your transferred assessed value generally becomes the assessed value on the replacement.
- If your replacement home’s value is higher than the sale price of your original home, the assessor takes your transferred assessed value and adds the price difference between the replacement and the sold home.
This means you do not start at the full purchase price on your new home for tax purposes. You start with your old, typically lower assessed value, and only add the difference if you bought up.
Notes to keep in mind:
- Assessors determine values and apply the statutory formula. They may use market or purchase price per county guidance.
- Your property tax bill can still include local special assessments, parcel taxes, or Mello-Roos that vary by location. Prop 19 affects assessed value, not those separate charges.
Hypothetical example A: Move-up purchase
- Old home assessed value today: $300,000
- Old home sold price: $500,000
- Replacement home purchase price: $900,000
- Result: $900,000 is higher than $500,000, so the assessor transfers your $300,000 assessed value and adds the $400,000 difference. New assessed value: $700,000. Taxes are based on $700,000 rather than $900,000.
Hypothetical example B: Right-size to a lower price
- Old home assessed value today: $300,000
- Old home sold price: $700,000
- Replacement home purchase price: $600,000
- Result: $600,000 is less than $700,000, so the assessor applies your transferred assessed value of $300,000 to the new home, subject to standard adjustments.
Oak Park to LA or Ventura: What to know
Oak Park sits in Ventura County, and many move-up buyers consider neighborhoods in Thousand Oaks, Westlake Village, or nearby Los Angeles County communities. Prop 19 portability works across county lines, so you can sell in Ventura County and buy in Los Angeles County, or vice versa.
- For Ventura County forms and filing steps, visit the Ventura County Assessor.
- If you are buying in LA County, see the Los Angeles County Assessor for local guidance.
Each county lists deadlines, required documents, and filing instructions. If your sale and purchase are in different counties, contact both offices early so you know exactly what to submit and when.
Step-by-step portability checklist
Use this simple checklist to stay on track:
- Confirm eligibility
- Verify that you are 55+, severely disabled, or a qualified disaster victim.
- Confirm the home you are selling was your principal residence with a homeowner’s exemption or disabled veterans’ exemption.
- Plan your timeline
- Buy or construct your replacement home within two years of selling your original home. The purchase can occur up to two years before or after your sale.
- Gather documents
- Closing statements for both sale and purchase
- Recorded grant deeds
- Proof of occupancy for the original home, such as driver’s license, voter registration, or homeowner’s exemption documents
- Any documents showing move-in and move-out dates
- File your claim
- After closing on your replacement property, submit the “transfer of base year value” claim with the county where you bought. Use the county assessor sites for the correct forms and mailing instructions:
- Follow up on your notice
- Watch for the notice of supplemental or reassessed value. If you believe there is an error, use the county’s appeal process.
For broader context and homeowner resources, the California Association of Realtors provides helpful guides on Prop 19.
Common pitfalls and local tips
- File on time. Missing county filing deadlines can jeopardize your portability benefit.
- Keep proof that the sold home was your primary residence. Your homeowner’s exemption paperwork is key.
- Coordinate with your lender early. Lenders estimate tax escrows. Let them know you plan to file a Prop 19 transfer so your escrow projections can account for the reduced assessed value.
- Confirm county requirements. If you are selling in Ventura County and buying in LA County, call both assessor offices to confirm forms, timing, and any proof they prefer.
- Ask for help on complex ownership. Spousal, co-owner, and estate situations can be nuanced. Consult the assessor and a qualified tax professional for guidance.
Planning your move-up with confidence
Whether you are right-sizing within Oak Park or moving up to a larger home in Westlake Village or into Los Angeles County, Prop 19 can meaningfully soften the jump in your property tax bill. Start by confirming eligibility, mapping your two-year window, and preparing documentation. Check with your county assessor and a tax professional before closing so your filing is smooth and timely.
If you would like help coordinating timelines, vendors, and the logistics of a sale and purchase, reach out to Renee Rosen. As a local, full-service broker, Renee guides you through each step and keeps the details on track. Ready to explore your options and Get My Valuation?
FAQs
Who qualifies under Prop 19 for a tax base transfer?
- Homeowners who are 55 or older, severely disabled homeowners, and certain wildfire or disaster victims who sell a primary residence that qualified for a homeowner’s or disabled veterans’ exemption.
How many times can a 55+ homeowner transfer their base value?
- Most eligible 55+ or severely disabled homeowners can transfer up to three times in their lifetime, with additional flexibility in some disaster cases; confirm details with your county assessor.
Does Prop 19 work across Los Angeles and Ventura counties?
- Yes. Prop 19 allows transfers anywhere in California. File your claim in the county where you buy the replacement home, such as the Los Angeles County Assessor or the Ventura County Assessor.
What is the two-year timing rule for the replacement home?
- You must purchase or construct the replacement primary residence within two years before or two years after the sale of your original qualifying home; check your county’s filing deadlines.
If I buy a more expensive home, how is my new assessment calculated?
- The assessor transfers your old assessed value and adds the difference between your replacement home’s price and your sold home’s price, which is typically less than a full reassessment to today’s purchase price.
What if my spouse is younger or we co-own the property?
- Spousal and co-owner situations have special rules. Contact your county assessor for guidance and speak with a tax professional if your ownership is complex.
What happens if I do not file the Prop 19 claim?
- You risk being assessed at the full value without the portability benefit; file the claim and include all required documentation per your county’s instructions.
Did Prop 19 change parent-to-child transfer rules in California?
- Yes. Prop 19 narrowed parent-child and grandparent-grandchild exclusions. These are separate from move-up portability and can be complex; review guidance from the California BOE or your county assessor.
