CA Empty Nesters Over 55 – A Once in a Lifetime Tax Benefit!

It’s no secret that inventory is low in San Francisco right now. One reason is that people who would like to downsize (and sell that mansion) after their children go off to school are hesitant to do so. I summarize an article here (cited below) to make people aware of a once in a lifetime tax benefit that could help them downsize. In California, Proposition 13 limited their annual property taxes to 1% of the sales price of their property,

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