ACTION ALERT: HJTA launches Reinstate 58 effort to reverse tax hike in Prop. 19

We’re excited to share the news that HJTA has launched an effort to reverse the damaging property tax increase on inherited homes and businesses that was added to the state constitution with the passage of Proposition 19 in November.

It’s hard to imagine anything more callous than the government sending a giant tax bill to a bereaved family, but thanks to Proposition 19, many California families will have that unfortunate experience.

HJTA is sponsoring Senate Bill 668, introduced by Sen. Patricia Bates (Laguna Niguel), which would continue the protection against tax increases for intergenerational transfers of property until February 16, 2023. Proposition 19’s changes to the tax treatment of inherited property took effect in February, leaving Californians little time to consult with family members, attorneys or tax professionals to plan for these sudden, harsh changes to property tax liability for the next generation.

HJTA also supports a constitutional amendment to reinstate Proposition 58 (1986) and Proposition 193 (1996), two measures that were overwhelmingly approved by voters to protect family property from reassessment when passed from parents to children or grandparents to grandchildren. Assemblyman Kevin Kiley (Granite Bay) is working with HJTA on final language for an Assembly Constitutional Amendment that would restore these protections.

California voters have strongly opposed state inheritance taxes, which were abolished by constitutional amendment in 1982. Proposition 19 has effectively resurrected the inheritance tax in California, with the added burden that families must pay it every year as a condition of keeping their property.

ACTION ALERT: We’re counting on YOU to call your state representatives and urge them to support Senate Bill 668 – to give Californians more time to plan transfers of family property – and to support a constitutional amendment to reinstate the protection from reassessment when property is transferred from parents to children. Tell them you support SB 668 and a constitutional amendment to reinstate Propositions 58 and 193.

You can look up the names and contact information of your state representatives at findyourrep.legislature.ca.gov, or find the full list of state lawmakers at:

https://www.assembly.ca.gov/assemblymembers  

https://www.senate.ca.gov/senators

More information about HJTA’s effort to reverse the Prop. 19 tax increase may be found at www.hjta.org/Reinstate58.

Please share this information with your friends, family and neighbors. It’s urgent that we tell the Legislature: This tax increase must be reversed to protect California families. Please call your state representatives as soon as possible.

Thank you for your help on this important matter. We greatly appreciate you!

Sincerely,

Jon Coupal, President
HJTA