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I am pleased to announce that SB 520 has been signed into law. This legislation provides a property tax exemption clarification for homeowners in hospitals or live-in care facilities.
In 1988, Prop. 93 established the Homeowners’ Property Tax Exemption, but with the addition of Prop 19 in 2020, some groups were undefined when it came to the qualification of said exemption. To ensure their home would still qualify and be eligible for inheritance without tax reassessment, some families were led to remove elderly parents from hospice or specialized care.
The homeowner who has previously qualified for the exemption should not lose that right because they are in a hospital or live-in care facility. I am proud to be able to make this clarification and help California’s families keep their homes.
SB 520 was sponsored by the Howard Jarvis Taxpayers Association (HJTA). "California families shouldn’t have to even consider pulling loved ones out of much-needed care to avoid a tax increase on their family home," said Jon Coupal, president of the HJTA. "That's why HJTA was proud to sponsor SB 520 and we thank Senator Seyarto and his staff for their hard work on this important legislation."
By clarifying this part of Prop. 19, SB 520 contributes to homeowners’ financial stability and peace of mind during challenging times.
Thank you for this opportunity for being of service.