News & Notes ......     



Yearly Update for  PROP. 90

     Prop. 90 that passed in 1988 permits eligible property owners over 55 along with severely and permanently disabled individuals to sell and transfer that assessed value of their present home to another of equal or lesser value to counties that have elected to accept the out of county transfer exemption. Originally, there were 14 counties that were accepting Prop. 90. As of July 1, 2018, there were 11 counties that are accepting Prop. 90: Alameda, Orange, Los Angeles, San Diego, San Mateo, Santa Clara, Ventura, *El Dorado, Riverside, San Bernardino and Tuolumne.
     Here's an example:  Let's say you bought your home for $150,000 back in 1985. Your current property taxes are $2,500 per year.  It's 2018 and your home is worth $900,000. Now you want to sell and buy a home in Tuolumne County for $450,000. The new property taxes on that property would be around $5,500 per year. With this law, you are able to transfer your current $2,500 per year taxes to that property.
     Remember, always check with the county where you may wish to move and confirm the current law for that county.

        * El Dorado County will now sunset Prop. 90 on November 7, 2018

Client Acclaim

     "Tom's flyers have been left on our doorstep for many years.  We figured Tom was a hard worker. He is very positive, good communicator, intelligent and knows the business.  Tom always kept us up to date and the sale of our home was a breeze.  We loved Tom and would recommend him in a heartbeat"!     Joe & Nancy B

Note: To see more of what Tom's Clients are saying. Go to the Agent Information Tab above and click on Testimonials.


Giving Back 

     Over the years, Tom has always given back to the Community in many different forms. In the 1990's, he started donating $100 (today's figure is $1000) after every closed sale to the Charity or Organization of his Client's Choice. Here are a few of those Charities & Organizations that have benefited: John Muir Foundation, Multiple Sclerosis Society, Make a Wish, Shepard's Gate, American Liver Association, Alzheimer's Association, Dan Marino Foundation, Children International, Meals on Wheels, American Cancer Society and American Heart Association.




    


Tom Montano
Tom Montano
Realtor Since 1978

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