By Tyson Lund
As strange as it may seem, homeowners who sell one home and buy another one of equal or lesser value can sometimes suffer a large increase in their property tax. It’s helpful to understand how this seemingly strange result can occur, and it’s important to understand how to avoid it when possible. In California, two laws, Propositions 60 and 90, shield senior citizens from such a tax increase in many cases. Seniors who are aware of the problem and the legal solution can protect themselves by acting promptly when changing residences. We’ll briefly explain the matter here. When the time comes, you can ask your realtor or tax advisor for help with the details.