Thinking about selling your Westlake Village home and moving to something smaller, but worried your property taxes will jump? You are not alone. Many long‑time owners want less maintenance and more flexibility, yet fear losing a low assessed value. This guide breaks down how California’s Prop 19 can help you transfer your property tax base when you downsize, plus how it works in Ventura County. You will learn who qualifies, how the value transfer is calculated, timing tips, and filing steps. Let’s dive in.
Prop 19 at a glance in Ventura County
Prop 19 took effect for most transfers on April 1, 2021. It gives eligible owners the ability to move their base‑year value from a current principal residence to a replacement principal residence anywhere in California. According to the California Board of Equalization’s Prop 19 guidance, portability is statewide and can reduce your future property tax bill when you move.
What changed under Prop 19:
- Statewide portability for eligible owners age 55+, severely disabled owners, and qualified disaster victims.
- Up to three base‑year value transfers for most eligible owners.
- Parent‑child and grandparent‑grandchild exclusions are narrower and tied to primary residence use with value limits.
What Prop 19 does not change:
- Federal or state capital gains taxes on your sale. Prop 19 affects property tax reassessment only.
- Local parcel taxes and special assessments. Only the assessed value is portable.
For official details and examples, start with the California Board of Equalization’s Prop 19 guidance.
Who qualifies to transfer a tax base
You may qualify to transfer your base‑year value if you are in one of these groups:
- You are age 55 or older at the time of the transfer.
- You are a severely disabled homeowner.
- Your home was substantially damaged or destroyed in a wildfire or other declared natural disaster.
You must move your base‑year value from your current principal residence to a replacement principal residence that you will occupy as your home. Eligibility, documentation, and deadlines are confirmed by the county assessor.
How the base‑year value transfer works
At a high level, you sell your current principal residence and buy or build a replacement principal residence. If you qualify, you can transfer the taxable value from the original to the replacement. Here are the key mechanics:
- Timing window. You can buy your replacement up to two years before or after you sell your original home, subject to eligibility and filing rules. Confirm timing with the assessor before you act.
- Principal residence requirement. Both the original and the replacement must be your principal residence.
- Statewide transfer. The replacement home can be anywhere in California.
If you buy equal or less in value
If the replacement home’s market value is equal to or less than the original home’s market value at the time of transfer, your original assessed value typically carries over without an upward adjustment.
If you buy higher in value
If the replacement home’s market value is higher, the new assessed value equals your original assessed value plus the price difference between the replacement and the original home’s market values. In simple terms, you keep your old tax base and add only the “price gap.”
How many times you can transfer
Most eligible owners age 55+ or who are severely disabled may transfer a base‑year value up to three times. Owners whose homes were substantially damaged or destroyed in a declared disaster have special rules that may offer additional flexibility. Review specifics with the BOE’s resources and the county.
For definitions, examples, and edge cases, review the California Board of Equalization’s Prop 19 guidance.
Timing your move in Westlake Village
You can purchase before or after you sell within the allowed window. In a competitive market, buying first can help you secure the right home, but it can add financing complexity. Selling first can simplify financing and reduce stress, but you must line up closing dates to fit the filing timeline.
Work closely with your agent and lender to decide whether to buy first or sell first. If you plan to buy first, explore options like bridge financing and consider temporary housing. If you plan to sell first, negotiate rent‑backs where appropriate so you have breathing room to find a replacement that meets the timing rules.
Local property type factors to weigh
Many Westlake Village sellers are moving from larger single‑family homes to townhomes or condos. That is allowed under Prop 19, and the value transfer will be calculated based on the market‑value comparison at the time of transfer.
- HOA dues and amenities. Factor monthly HOA dues and services into your total housing cost. Property tax savings may offset some of those dues, but it depends on your purchase price and the formula above.
- Special assessments. Prop 19 does not change local parcel taxes or Mello‑Roos. Compare assessments across neighborhoods before you choose a replacement.
- Planned improvements. Significant remodels or new construction can trigger their own assessments. Discuss your plans with the county before starting work.
Filing steps with Ventura County
You must file a claim with the county assessor to transfer your base‑year value. The assessor will verify eligibility, evaluate market values, and apply the transfer to your new home’s assessed value. Here is how to prepare:
- Contact the assessor early. Ask about the Prop 19 claim form, deadlines, and current processing times. Start with the Ventura County Assessor.
- Gather documentation. Typical items include proof of age or disability when applicable, closing statements, recorded deeds, and evidence of principal residence intent (for example, driver’s license or voter registration).
- Mind timelines. The claim and supporting documents must be filed within the county’s deadlines. If you bought before you sold, confirm how the timeline applies in your case.
- Keep good records. Save your purchase and sale paperwork, appraisals if any, and correspondence with the assessor.
Parent‑child transfers after Prop 19
Prop 19 narrowed the old parent‑child and grandparent‑grandchild exclusions. Today, a transfer between generations may avoid reassessment only in limited situations when the property will be used as the transferee’s primary residence and within value limits. Investment or vacation properties usually do not qualify under the new rules. Because this affects estate plans, speak with your tax or estate advisor before making decisions. For an overview, consult the California Board of Equalization’s Prop 19 guidance.
Practical checklist for Westlake Village sellers
Use this quick list to plan your move:
- Confirm eligibility. Verify you meet the age 55+, disability, or disaster criteria and gather proof.
- Map your timing. Decide whether you will buy first or sell first based on financing, inventory, and your move dates.
- Run the numbers. Ask your agent and tax advisor to estimate the new assessed value in a few price scenarios so you can forecast property taxes.
- Compare neighborhoods. Look at HOA dues, parcel taxes, and services so you have a full cost picture, not just the property tax line.
- Call the assessor. Request the Prop 19 claim form, current deadlines, and any extra documentation Ventura County requires. Start with the Ventura County Assessor.
- Review your estate plan. If you intended to pass your home to children, Prop 19’s narrowed exclusions may require updates.
- Coordinate with advisors. A CPA or tax attorney can guide capital gains, basis, and long‑term planning that Prop 19 does not address.
Common scenarios sellers ask about
- Downsizing to a condo nearby. You can transfer your base‑year value if you qualify. If the condo’s market value is equal or less than your old home’s value, your assessed value typically carries over. If it is higher, expect an upward adjustment equal to the price difference.
- Buying first, then selling. If you buy within two years before selling, your transfer may still qualify. Confirm with the assessor and your lender, and plan your filing timeline carefully.
- Moving to another California county. Portability is statewide. You can buy in another city or county and still transfer your base‑year value if you meet the rules.
- Remodeling after you move. Certain improvements can trigger their own assessments. Check with the county before you begin major work.
Where to go for official guidance
For the latest rules, required forms, and examples, rely on primary sources:
- State rules and examples. See the California Board of Equalization’s Prop 19 guidance.
- Local filing, forms, and contacts. Visit the Ventura County Assessor.
Prop 19 rules are technical and county procedures vary. Confirm your specific facts with the assessor and your tax or legal advisor before you act.
Ready to explore your downsizing options?
If you want a clear plan for timing, pricing, and tax impacts, we can help. Our team pairs local Westlake Village expertise with a process built for smooth moves, from valuation and staging to market exposure and negotiation. Start with a custom pricing consult that includes a Prop 19 portability estimate and a net proceeds outlook. Connect with Sean Curts & associates to get started.
FAQs
Who qualifies for a Prop 19 base‑year transfer in Ventura County?
- Homeowners age 55 or older, severely disabled homeowners, and those whose homes were substantially damaged or destroyed in a declared disaster may qualify; confirm details with the California Board of Equalization’s Prop 19 guidance and the Ventura County Assessor.
How many times can I transfer my tax base under Prop 19?
- Most eligible owners age 55+ or severely disabled can transfer up to three times; disaster‑related transfers have special rules, so check the BOE’s Prop 19 resources and contact the Ventura County Assessor for your situation.
Can I buy my replacement home before I sell my current one?
- Often yes; purchases within the allowable window that can extend up to two years before the sale may qualify, but you must meet filing deadlines, so verify timing with the BOE guidance and the Ventura County Assessor.
How is my new assessed value calculated if I buy a more expensive home?
- Your new assessed value is your original assessed value plus the difference between the replacement home’s market value and the original home’s market value; see the BOE’s Prop 19 explanation for details.
Does Prop 19 affect my capital gains taxes when I sell?
- No; Prop 19 deals with property tax reassessment only and does not change federal or state capital gains rules, so consult a CPA for tax planning and use the BOE guidance for property tax questions.
Where do I get the Ventura County claim form and filing instructions?
- Start with the Ventura County Assessor for local Prop 19 forms, documentation requirements, and contact information, and confirm any deadlines that apply to your transaction.
