Townhouses and Condominiums are selling in La Jolla and it is partly due to the fact that seniors are downsizing. Downsizing can be overwhelming but now is the time to begin looking. There are plenty of listings on the market and a wonderful variety of townhouses and condo complexes available in La Jolla.

I started working with seniors who wanted to sell their home and move to a smaller place. During the process, I assisted my clients in disbursing household items that they didn’t want to keep, staged their home with what was left and gave them the necessary tools so they could transfer their property tax base to their new smaller home. Many times my clients moved into a Townhouse or Condo Complex.
One of the benefits downsizing in La Jolla is the property tax transfer. In order to transfer your tax there are some rules you must follow in California and not all counties offer the transfer. If either spouse is over age 55 (when the old home is sold), PROP 60 allows replacement of a primary residence with a new home of equal or lesser value within the same county and transfer of the Prop 13 assessed valuation from the old home to the new property. This is allowed once in your lifetime, and a spouse who has done it before ‘taints’ both spouses. San Diego County is one county that allows the transfer.

PROP 90 allows California counties to elect to accept transfers of Prop 13 values for moves from other counties when a primary residence is replaced with a less expensive home. If you are over 55 and move into a county which accepts Prop 90, you may take your old, lower Prop 13 value, regardless of from which county you move. La Jolla accepts the transfer of property taxes. Transferring you property tax base to a Condo or Townhouse in La Jolla makes the process worthwhile!

Online: Forms are available from the Assessor’s website, or you can email them: helpdesk@assessor.lacounty.gov