Review Of Home Tax Base Propostions References. That’s because property taxes here are based mostly on the value of your home when you bought it — not its current market value. Proposition 19 allows homeowners who are over 55, disabled, or wildfire/disaster victims to transfer primary residence's tax base.

Proposition 19 allows homeowners who are over 55, disabled, or wildfire/disaster victims to transfer primary residence's tax base. A decline in value occurs when the current market value of real property is less than the current assessed (taxable) factored base year value as of the lien date, january 1. Proposition 13 protects buyers from extraordinary increases in property tax by setting a base year value on the property.