Tagged : Empty Nesters

Found 1 blog entry tagged as "Empty Nesters".

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Voters approved Proposition 60 and 90 in the late 1980's giving homeowners older than 55 a one-time property tax break when they sell their primary residence and buy a replacement property of equal or lesser value. The California Association of Realtors (CAR) sponsored legislation that would have extended this tax break to Seniors who buy a more expensive home. The thinking behind this Bill, which didn't make it out of the Appropriations Committee, is that many times Seniors have to spend more money to downsize to a newer home or one with a more age-friendly floor plan. This prevents many empty nesters from selling big homes they no longer need or want because they can't afford to take on a higher property tax bill.  If they were able to move, it

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