Prop 90 allows homeowners to transfer their low property tax base from one county to another if that county participates. El Dorado County is one of only 10 counties that participate in the program and the only one outside of the Bay Area or Southern California. 

Requirements:

  • One of the property owners must be 55.
  • Replacement residence:
    •   Must be purchased or newly constructed within two years (before or after) of the sale of the original residence.  
    •   Must qualify for homeowner’s exemption at the time application is made.
    •   The fair market value of the replacement residence must be equal to or less than:
      •     100 percent of the original property fair market value as of the date of sale if replacement residence is purchased or newly constructed before the originalresidence is sold.
      •     105 percent of the original property fair market value if replacement residence is purchased or newly constructed within 12 months of the sale of the original residence. (Helpful hint: 105% applies if you close escrow on the new property just one day after you close escrow on the original property)
      •     110 percent of the original property fair market value if replacement residence is purchased or newly constructed between 12-24 months of the sale of the original residence.
  • If the replacement residence is purchased first, the change in ownership will be assessed until the original residence is sold.
  • The county will take the application and verify the information with the prior county.
  • The application fee is $500 and is due at the time the application is submitted. The Assessor holds the check until the transfer is approved. 

For more info on Prop 90, contact the Tax Assessor's office at 530-621-5721.