Thursday, January 21, 2010

Santa Clara County, Property Taxes

In Santa Clara County: If you're 55 or older, you can sell your appreciated primary residence to buy a new primary residence and pay the same property taxes if the value of the new home is equal or less than the old home. It can only be done once...

i.e. You bought a home for $500,000 for a primary residence in Santa Clara County. You sold it for $750,000. You bought a new primary residence for $750,000. You might be able to pay the old property taxes.

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