Proposition 19 has a hidden threat to seniors who have inherited their homes. If inherited homes are valued at more than $1 million, then property taxes will substantially increase. Some will have to leave their lifelong homes as a result of their inability to pay the huge tax increase.
Seniors who want to stay in their homes aren’t thrilled that the Silicon Valley market value of their homes has ballooned. Me for one. I have lived in my home since 1970. I live on a fixed income. My mother struggled to keep our house and we often didn’t have proper food when I was young. Two of my senior neighbors have lived in their homes since birth. One still has to work, the other cares for his disabled wife, works part time, and rents out a room in his house.
Proposition 19 helps seniors who want to leave, but threatens seniors who need to stay.