Nothin Finer For A Home Buyer Than To Be At Least 55

Have I got a money saving Real Estate Tip for you!

Currently, I have retired home buyers from Milpitas, CA (Santa Clara County) moving to the Sacramento area. ?What is great for these home buyers is the fact that they have the wonderful opportunity of bringing their property tax base with them to El Dorado Hills where they are looking for a home for sale. ?Click the link to see the current homes for sale in El Dorado Hills.

These Milpitas home buyers bought their home years ago and have been paying ?very low property taxes since they purchased so long ago. ?Now, they get to bring the low family home property tax base to El Dorado Hills for their future home they will be buying.

Here is their example to give you an idea of how it could work for you?

• Milpitas Homeowner bought their current home for $84,000 and pay $800/yr in property tax
• Milpitas Homeowner is selling their home for $549,000
• Milpitas Homeowner can buy a home in El Dorado County for $549,000 or less and ?bring their $800 per year property tax with them instead of paying $5,500 in property taxes per year.

Quite a savings?if you are at least 55 years of age and want to save money, give me a call and as your REALTOR?, I?ll help you find just the right home in El Dorado County. Now, isn?t this a great real estate money saving tip?

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Proposition 90 For Baby Boomers

El Dorado County here in the Sacramento real estate area, cooperates with the following CA counties:

• Alameda
• Santa Clara
• San Diego
• Los Angeles
• San Mateo
• Orange
• Ventura

Back in 1988 voters approved Proposition 90, a measure that provides anyone over the age of 55 to move from one county to another without having to pay higher property taxes. Even if the county you live in did not pass Proposition 90, you are still eligible as long as you move to a county that did pass Proposition 90.

In order to further qualify the house you are buying must be of equal or lesser value than the one you are moving from.

Whenever there has been a change in ownership and a home sold, the property taxes are re-assessed based on the amount the home sold for, resulting in higher property taxes much of the time.

If you qualify for this exemption, you should call the county you want to move to and make sure that the county is still offering this exemption. Laws can change every year so be diligent.

For more information about Proposition 90 please check out more from California State Board of Equalization.

Proposition 60 for Baby Boomers

This is a similar law that allows age 55 and over seniors to keep their property tax base if moving within the same county. ?The kicker here as well as Proposition 90 is that the home the senior is moving to must be of equal or lesser value than the house they are leaving behind. For further reading check out California Proposition 60 Property Tax Assessments for Older Homeowners.

Who says getting older is the pits?looks like getting older has its benefits in real estate!! ?Give me a call if you are thinking of selling your home and moving to El Dorado County( click on the link to see the homes for sale)?I?d love to help you, too!

Other Senior Baby Boomer Retired Articles:

Sacramento Reverse Mortgage Tip

Are You Looking For A Place To Retire?

5 Things to Know About Reverse Mortgages

Baby Boomers in Real Estate

Retire in Elk Grove California

Retire in Roseville California

Source: http://www.sacramentorealestatevoice.com/nothin-finer-for-a-home-buyer-than-to-be-at-least-55/

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