Prop 19 for Seniors: How Long-Time RPV Residents Are Moving to Condos Without Triggering a Tax Hike

If you’ve lived in Rancho Palos Verdes for years, you probably know there’s nothing quite like the ocean views, the scenic bluffs, and that close-knit community feel. But as the years pass, many long-time residents start thinking ahead, wondering how to enjoy their golden years while managing property taxes effectively.

Here’s the good news. Thanks to Prop 19 and recent legislative changes, seniors in Rancho Palos Verdes can make significant moves without the dreaded tax hike. If you’re a long-time RPV resident considering a move to a condo or a smaller home, this article is your roadmap.

Understanding Prop 19 and Its Relevance in Rancho Palos Verdes

Proposition 19, approved by California voters in 2020, transformed the landscape of property tax transfers. For many seniors, it opened doors to move to new homes or condos across California while keeping their current property tax base intact.

In RPV, where property values continue to climb, this is a game-changer. It allows residents aged 55 and over, or those with severe disabilities, to transfer their current Prop 13 assessed value to a new primary residence.

The real magic? They can do this multiple times and even outside of their original county — all without triggering a reassessment that could increase property taxes considerably.

What Does This Mean for Long-Time RPV Residents Moving?

Long-time residents moving to condos now have a pathway to protect their estate. Instead of facing substantial reappraisals, which could mean higher annual taxes, they can transfer their existing assessed value to a new, often more affordable, home or condo.

Recent data from the Los Angeles County Assessor’s Office confirms that the process is more flexible than ever. You can transfer your assessed value to properties of different sizes or types, as long as certain conditions are met.

How Long-Time RPV Residents Can Move Without a Tax Hike

If you’ve owned your home in RPV for many years, you’ve likely benefited from Proposition 13, which caps your property tax based on the initial purchase price. Now, with Prop 19 in effect, moving is easier.

Here are some key points:

Transfer Limit
You can transfer your base year value to a new home or condo of equal or lesser value. If you move to a more expensive property, you can still transfer the assessed value but will need to pay the difference.

Multiple Moves
Unlike the old rules, Prop 19 allows multiple transfers of the assessed value, making it possible to downsize or change homes over the years without losing your tax benefits.

Outside of RPV and California
The transfer can happen anywhere in California, easing the process for seniors moving to different regions or even out of state.

For example, if you are considering moving to a condo in nearby Torrance or relocating to be closer to family, you can maintain your property tax base and ease the financial transition.

The Details: Calculating Your Transfer

Transfer rules are detailed, but the California State Board of Equalization and the LA County Assessor’s Office provide helpful guidance.

The assessed value transfer under Prop 19 is based on the “factored base year value.”

This means only the difference between the new property’s value and your transferred assessed value may be taxed.

In simple terms:
– Keep your current assessed value
– When moving, the new property gets your old tax basis
– Any increase in value is taxed at current rates

This approach prevents a full reassessment, saving you thousands annually.

Practical Examples and Scenarios

Suppose you own a home in RPV valued at 2 million dollars and plan to move to a condo priced at 800,000 dollars. If you’ve owned your home for over 20 years and your assessed value is 500,000 dollars, Prop 19 allows you to transfer that assessed value to the new condo.

This means your property taxes remain relatively low despite the new purchase.

Alternatively, if you’re moving out of California to be closer to family, the state allows this transfer under certain conditions, helping you preserve long-term tax benefits.

Actionable Steps You Can Take Today

If you’re a long-term RPV resident considering this move, here’s what you should do:

Review Your Current Assessed Value
Check your latest property tax bill or speak with Carol Anne Mills for a detailed analysis of your specific situation.

Understand Your Transfer Limitations
Ensure your desired new property meets the value and eligibility requirements for transferring your assessed value.

Consult a Local Expert
Work with someone who understands the RPV market and Prop 19 nuances to avoid costly mistakes.

Get the Paperwork Started
You will need to file a claim with the LA County Assessor’s Office. Proper timing and documentation are critical.

Plan Your Move
Whether downsizing to a condo or relocating out of the area, strategic timing can help you maximize your benefits.

RPV Market Insights and Trends

The Rancho Palos Verdes real estate market remains strong. Recent data shows steady appreciation, particularly for homes with ocean views and larger lots.

As of late 2025, median home values hover around 2.8 million dollars, with condos typically ranging between 600,000 and 900,000 dollars. These conditions make Prop 19 especially valuable for long-time homeowners considering a transition.

Why This Matters for Long-Time RPV Residents Moving

Living in RPV is about more than property values — it’s about lifestyle, stability, and long-term planning. Prop 19 provides a pathway to adapt without facing a dramatic increase in property taxes.

If you’ve owned your home for decades, these rules can help you preserve your financial flexibility while embracing the next chapter.

Ready to Explore Your Options?

If you’re considering a move or want a personalized breakdown of how Prop 19 applies to your situation, I’m here to help.

You can reach me at 310-701-2486 or email [email protected] to discuss your options and next steps.

Let’s talk about how you can protect your legacy and move forward with confidence in or beyond Rancho Palos Verdes.