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A common problem occurs when the homeowner dies; if the surviving resident does not meet the requirements for ownership, then he or she is forced to sell the home. This can happen even if the survivor is the spouse of the deceased. However, many age-restricted communities have circumvented this issue by allowing the survivor to maintain ...
Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, and to require a 2/3 majority for tax increases in the ...
Seniors can have their homestead assessed value "frozen" at the next assessment date after reaching age 65. California exempts the first $7,000 of residential homestead from property taxes. Colorado allows a 50% deduction for up to the first $200,000 (equivalent to a $100,000 exemption if the property is valued at $200,000 or above) for seniors ...
Before using home equity to buy land, consider what you’ll use the land for. Residential land sales represent about one-quarter (24 percent) of all U.S. land sales overall, but can approach ...
Roughly 165,000 undocumented workers in California were age 55 or older in 2019, according to the UC Merced Community and Labor Center. California undocumented seniors could get cash assistance ...
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
1889 - A statute requiring aliens to declare an intent to naturalize "in good faith" in order to buy property is added to the territory's constitution, refining the 1886 law. [1] [13] 1921 - An alien land bill modeled after the California law is passed in the state legislature after failing to make it onto the 1920 ballot. As in California ...
Whether a fee or charge is "property-related" is legally significant because if a fee or charge is "property-related," it is subject to the procedures and requirements applicable to such levies in Article XIII D. [137] The detailed procedures and requirements for property-related fees or charges are contained in Section 6 of Article XIII D.
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