Prop 19 Base Transfers For Marina Homeowners

Thinking about selling in the Marina and worried your property taxes will spike when you buy again? You are not alone. Many San Francisco homeowners want to move while keeping their tax base as low as possible. In this guide, you will learn how Prop 19 base-year transfers work, who qualifies, and what to expect if you buy a more or less expensive home. Let’s dive in.

What Prop 19 allows

Prop 19 lets eligible homeowners transfer the taxable value of their current primary residence to a replacement primary residence anywhere in California. This can help you avoid a full reassessment at today’s prices when you move. According to statewide Prop 19 guidance from the California Board of Equalization, you may transfer if you meet certain conditions and timing rules.

When the replacement home is equal or lower in value, you can usually carry over your current base value. When it is higher in value, the base value increases by the price difference between the two properties.

Who qualifies and how many times

Age, disability, or disaster

You qualify if one of the following applies:

• You are age 55 or older at the time of transfer.
• You are severely and permanently disabled as defined by law.
• Your home was substantially damaged or destroyed by a qualifying wildfire or other disaster.

Principal residence requirement

Your original property must be your principal residence and generally eligible for the homeowner’s exemption or disabled veterans’ exemption. The replacement property must also become your principal residence.

Lifetime transfer limits

Most eligible owners age 55+ or disabled may transfer their base value up to three times in a lifetime. Disaster-related transfers may follow different allowances. For details, review the California Board of Equalization’s Prop 19 resources.

Timing rules you must meet

Prop 19 gives you a two-year window. You can purchase or construct the replacement home up to two years before or within two years after selling or transferring your original home. You must also file a formal claim with the county where the replacement property is located. For San Francisco properties, confirm deadlines and forms with the San Francisco Office of the Assessor-Recorder.

How your new assessed value is set

Buying equal or less expensive

If your replacement home’s market value is equal to or less than your Marina home’s market value at the time of transfer, your original base value typically carries over. That can result in a much lower annual property tax than a fresh reassessment at the purchase price.

Buying more expensive

If your replacement home costs more, the new assessed value equals your original taxable value plus the difference in market value between the new property and the original property. In other words, you keep your old base but add a step up equal to the price gap.

Marina-specific factors to consider

Marina District homes often carry higher market values than many other areas in California. If you move to an even higher-priced home, expect a meaningful step up in assessed value even after the transfer. Also remember that Prop 19 affects property tax assessment only. It does not remove other San Francisco costs like documentary transfer tax or recording fees, which you should include in your closing and holding cost plan.

Real-world examples (hypothetical)

• Scenario A — downsizing: Your Marina home’s market value at sale is $2,000,000. Its existing assessed value is $800,000. You buy a replacement home for $1,300,000. Because the replacement is less than or equal to the original’s market value, your assessed value can generally transfer as $800,000.
• Scenario B — move-up: Using the same $800,000 assessed value and $2,000,000 market value for the original home, you buy a replacement for $2,500,000. New assessed value equals $800,000 plus the $500,000 price difference, or $1,300,000.

These are simplified, hypothetical illustrations. Always confirm calculations with the assessor.

Planning steps and checklist

Before you sell

• Confirm your current assessed value and homeowner’s exemption status.
• Gather proof of age or disability if applicable.
• Call the San Francisco Assessor-Recorder to understand required forms, filing timelines, and any provisional guidance.

During transaction planning

• Decide whether to buy first or sell first. Either is allowed within the two-year window.
• Coordinate with your agent and escrow to flag your Prop 19 claim so the assessor receives documentation promptly.

After you move

• File your base-year transfer claim with the assessor where the replacement property is located.
• Apply for the homeowner’s exemption on your new primary residence.
• Keep all records: sale and purchase prices, dates, and correspondence with the assessor.

Guidance for downsizers

If your replacement home is equal or less in value than your Marina home’s market value, Prop 19 can be very favorable. You may keep your lower base value, which can reduce your ongoing taxes. For many retirees or anyone mindful of monthly expenses, that can make a move far more affordable.

Guidance for move-up buyers

If you plan to buy a more expensive home, budget for a higher assessed value even with a base transfer. Estimate your property tax using the step-up calculation and factor in insurance, HOA dues, and maintenance to understand your full holding costs.

Intercounty and out-of-state moves

Prop 19 transfers are allowed statewide. You can sell in San Francisco and buy in any California county and still apply for the transfer. If you move out of California, Prop 19 does not apply to your new home.

What to expect after filing

The transfer is not automatic. You must submit a claim to the county assessor for the replacement property. Processing and timelines vary by county. For San Francisco specifics, use the Assessor-Recorder’s website and contact the office early if you have special circumstances, such as disaster relief or complex ownership.

Ready to plan your Marina move with a clear property tax strategy? Reach out for local guidance and a detailed selling and buying plan that fits your goals. If you want to explore your home’s market position, connect with Mandy Lee.

FAQs

Who qualifies for a Prop 19 base transfer in California?

• Eligible owners include those age 55 or older, those who are severely and permanently disabled, and those whose homes were substantially damaged or destroyed by a qualifying disaster.

How many times can I transfer my base value under Prop 19?

• Most eligible owners age 55+ or disabled may transfer up to three times in a lifetime; disaster-related transfers can differ, so confirm with the assessor.

What is the timing window for buying and selling under Prop 19?

• You can purchase or construct the replacement home up to two years before or within two years after selling or transferring your original property.

Does the replacement home have to be my principal residence?

• Yes. The replacement must become your principal residence, and you should claim the homeowner’s exemption there if eligible.

How is my new assessed value calculated if I buy a pricier home?

• The new assessed value equals your original taxable value plus the difference between the replacement home’s market value and your original home’s market value.

Does Prop 19 remove San Francisco transfer taxes or fees?

• No. Prop 19 addresses property tax assessment. Local transfer taxes and fees still apply and should be included in your budget.

Can I buy the replacement home before selling my Marina home?

• Yes. Buying first is allowed as long as you complete both transactions within the two-year window and file your claim with the appropriate county assessor.