Within Santa Clara County (Proposition 60)

Proposition 60 allows homeowners 55 years of age or older to transfer the base year value of their principal residence to a newly purchased or constructed replacement residence within Santa Clara County.

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Construction has started if any physical activity on the property has resulted in visible changes that are recognized as the initial steps for construction.

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The veterans' exemption may be applied to real or personal property located in the county, and exempts up to $4,000 off of the assessed value of the property

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R & T Code 73, Assembly Bill 1451 (Ch. 538, Stats. 2008)

The property tax incentive for the installation of an active solar energy system is in the form of a new construction exclusion. Therefore, the installation of a qualifying solar energy system will not result in either an increase or a decrease in the assessment of the existing property.

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Under California Constitution Article XIII A (Proposition 13) real property is reappraised only when a change in ownership occurs, or when new construction takes place.

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