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New property tax benefit for seniors & city survey for businesses

Prop 19 expanded property tax benefits for those over 55

(from the office of Jeff Prang, LA City Assessor)

As of April 1st, Proposition 19 expanded property tax benefits for those 55 and older, the disabled, and victims of natural disasters, allowing them to transfer their property’s assessed value and tax basis when they sell their home and purchase a new one, or any value, anywhere within California. Previously, this tax base transfer opportunity was limited to only 10 counties statewide. Additionally, eligible homeowners can now transfer their base-year assessed value to a more expensive home, whereas the previous law limited the transfer to a home of equal or lesser value. Eligible homeowners can also transfer their assessed value up to three times, while under previous law they could only move with their assessed value one time. In effect, the property tax base for seniors is now “portable.”

Survey for business owners

The Los Angeles County Business Federation (BizFed) is surveying the business community to find out what are the top areas of concern as the economy reopens, what businesses have learned over the past 12 months, and ultimately, what is the business outlook for the next 12 months? Your unique insight will guide their advocacy over the next 12 months.

Help BizFed provide powerful insight to help shape the future of business in LA County! Survey is less than 10 minutes and you’ll help determine BizFed’s priorities for the year. The data gathered from this poll is used to inform policymakers throughout the region.

Click here to access the survey.


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