Prop 90 Reinstated and Will Boost Luxury Home Sales in Riverside County
Last month the Riverside County Supervisors voted unanimously to reinstate the Prop.90 property tax incentives for homeowners who are 55 years old and older.
The Riverside County Board of Supervisors had reinstated Prop 90 effective September 20, 2013. The Supervisors are putting Prop 90 back into play to drive the sale of higher-priced homes to the 55-plus crowd.
Scott Partridge of Allison James “Estates & Homes” states, “Before, folks who otherwise might have retired in Riverside County and moved to other states or other counties in California offering this property tax incentive will now be staying or moving into Riverside County area”.
This law would allow people older than 55 to sell their property in California and transfer the tax base assessments affiliated with that property to a replacement dwelling in Riverside County.
Scott goes on to state. “The thought is, Prop 90 would enable bigger ticket homes to be acquired in Riverside County as many buyers now are focused on the Murrieta & Temecula Luxury Communities”.
Scott Partridge of Allison James “Estates & Homes” can be reached at 951-757-2148 or email: Scott@PreviewLux.com to answer any questions that you may have about Prop 90 or the communities in Murrieta & Temecula.
- Contact Information
- Scott Partridge
- Luxury Estate Advisor
- Allison James ’Estates & Homes"
- (1) 951-757-2148
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