The “Repeal the Death” Tax Initiative Wants to Protect Your Children from Property Tax Reassessment
Posted On: January 3rd 2024
The Repeal the Death Tax initiative concerns property taxes. This initiative aims to restore the parent-child property transfer rules that allowed parents to pass their home and up to $1 million of assessed value of other property to their children without any change to the property tax bill. And the impacts of it would be retroactive. The Petition is available here.
Repeal the Death Tax Act – Frequently Asked Questions – answers the questions: What is the “Death Tax?” How can I get the petition, and what is the deadline? What did Prop 13 from 1978 do? What did Prop 58 from 1986 do? What did Prop 193 from 1996 do? What is Prop 19 from 2020?
This initiative seeks to restore Props. 58 and 193 so that parents and grandparents may once again be able to transfer their home, of any value, plus up to $1M of assessed value of other property (such as a vacation cabin, rental home or small business property) without any change to the property tax bill.
This initiative does NOT seek to alter Prop. 19’s property tax transfer benefits for wildfire victims, disabled people and seniors.
ACTION NEEDED: Signature Collection – Frequently Asked Questions – Electronic signatures are not valid on petitions to get an initiative on the ballot. Print the Petition and obtain voters’ handwritten information and signatures. The deadline to submit signatures by mail is January 16, 2024.
Contact us today for more information on how to protect your children and property.