Propositions 60/90 Provide For Lifestyle Transitions

With the kids grown and on their own, it may be time to make your move - a new address, that is. That big beautiful home may no longer work for you. With high utility costs, all that extra room and all the hard work it takes keeping it looking nice makes you wonder… Is it really worth it?

While doing some California Dreamin', you realize that it may be time for a change. You'd love downsizing to a smaller, more practical, more economical home, savoring extra time… not cleaning… not landscaping and instead, spending more quality time with the grandkids… traveling… tennis, golf, having fun… basically enjoying life.

Then reality hits. That "ugly tax thing" that paralyzes you from seriously considering such a move comes into clear focus. Buying a new home translates into higher property taxes than the one you've enjoyed for years. Or, so you think? Plus, your home is hard to leave. It's your "nest egg" with all that equity sitting there like a prized trophy - literally. But the lure of "cashing out"… buying a smaller home… and sizably boosting your bank account with money you can actually use, is too good to not consider.

Well, there is good news.
Relief may be just a seminar away. It depends on how you answer these few easy questions:

1. Are you or your spouse age 55 or over?

2. Would you seriously consider moving to a smaller, and equally or less expensive primary residence if it didn't increase your property taxes?

3. Are you aware of a special incentive program designed to help you?

If you answered yes, yes and no, you may want to consider . .

The tax benefits of Proposition 60.