Want to move to Palm Springs but worry you won’t be able to afford it? If you’re over 55 and you live in certain California counties, consider Prop 90.
Proposition 90 is a 22-year-old initiative that enables homeowners 55 years or older to transfer the base year value of their principal residence in one participating county to a newly purchased residence in another participating county provided that certain requirements are met. Palm Springs is an ideal destination for retirement because it is in Riverside County, a Prop 90 particiant.
To qualify for the program, applicants and properties must meet the following requirements per the California Board of Equalization:
1. At the date of transfer of the original property, the transferor (seller) must