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Real estate on the ballot: Here’s what passed at the state level

Housing Wire

The passing of Proposition 19 in California overhauls Proposition 13, which slashed property taxes by almost 60% in 1978. Now, eligible homeowners may transfer their tax assessments anywhere within the state – including the ability to transfer tax assessments to a more expensive home with an upward adjustment.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

. >> Seattle homeowners pay a median $4580 in property taxes, based on data collected by LendingTree.com. That ranks the Emerald City seventh among the top 50 most expensive metros for real estate taxes. By a different measure , property taxes on only King County single-family homes in 2021 averaged $7608. >>

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