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You are invited to a webinar on Prop. 19 and Repeal the Death Tax
We thought you might be interested in this free webinar about Prop. 19 and the campaign to repeal the "Death Tax" that was imposed on California families by that measure.
HJTA's VP of Communications, Susan Shelley, will join attorney Robert Galliano, a Certified Specialist in Probate, Estate Planning, and Trust Law, and the team from the law firm of Copenbarger & Copenbarger, LLC, for this informative presentation. It takes place on Wednesday, March 23, from 11:00 a.m. to 12:00 p.m. Here's the link to register: http://events.r20.constantcontact.com/register/event?llr=nohupukab&oeidk=a07ej3njbngf38df2bb
We will discuss:
* What is Proposition 19?
Before the passage of California Prop 19, parents could transfer property to their children, and grandparents to their grandchildren, and the transferred property would retain its tax basis despite the change in ownership.
Other types of properties, such as vacation homes and business properties, could also be transferred from parent to child or grandparent to grandchild with the first $1 million of assessed value exempt from reassessment when transferred.
* What's Changed?
Now under Proposition 19, if your child does not use the inherited primary residence as their primary residence, they can no longer take advantage of the lower tax rate. Instead, the property will immediately be reassessed at current market value. Such a tax hike may make it nearly impossible for your child(ren) to keep the home if they plan to use it as a secondary property, a rental, or a vacation home.
Proposition 19 also eliminated current owners' ability to pass on up to $1,000,000 of taxable value of other property to their children without reassessment.
* What Should You Do?
To restore these protections for California families, the Howard Jarvis Taxpayers Association has filed an initiative with the attorney general's office. The "Repeal the Death Tax Act" would reinstate Propositions 58 and 193. Parents would once again be able to transfer their home and a limited amount of other property to their children without triggering reassessment and a property tax increase.
Register for this Webinar about Proposition 19 and learn how you can help with this initiative! To register for this event, click the button below, or call us at (888) 846-9095.
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If you’re already collecting signatures, thank you! Please send back the signed petitions as soon as possible, but no later than April 15. You can fold them and return them in any kind of envelope or box. The address to return them by mail is:
Howard Jarvis Taxpayers Association
921 11th Street, Suite 1201
Sacramento, CA 95814
For your convenience, we're adding more pick-up and drop-off locations. Find them here: RepealTheDeathTax.com
Thank you!
Sincerely,
Jon Coupal
President, HJTA
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