Last week, at the California Association of Realtors annual convention, the C.A.R. Board of Directors approved a C.A.R. effort to put an initiative on the November 2018 state wide ballot – which will allow individuals 55 years of age and older to transfer their property tax basis to any home in the state, to purchase any price home, and to transfer their basis as many times as they wish.
According to the Legislative Analyst’s Office as many as 43,000 additional transactions will occur annually.
To fund this effort, the C.A.R. Directors approved a $100 per member allocation for the Initiative’s Issue Fund.