What is a TAX BASE TRANSFER?
Proposition 60 allows homeowners 55 years of age or older to transfer the base year value of their principal residence to a newly purchased or constructed replacement residence within Santa Clara County.
The homeowner must be at least 55 years of age at the time the original residence is sold and must be an owner on record of both the original and replacement residences.
The replacement residence must be equal to or lesser in value than the original residence.
Morgan Hill, San Martin and Gilroy are known for their quality of life - More land, fewer people, better prices. That makes our area very attractive to many people who are looking for a more serene living environment to spent their over 55 years.
You can find additional information at the SCC Assessors website.