Q: I read that Prop 19 will cause my property taxes to go up drastically as a result of this new law. Is that correct?

by | Mar 9, 2022 | Estate Planning, Q&A |

A: Yes and no. Although Prop 19 did drastically change the rules regarding transfers between parents and children (many of these types of transfers in the future will cause a property tax increase), it did NOT eliminate the Prop 13 benefits that all property owners have on the real estate they own during their lifetimes (i.e. maximum increase of 2% per year).