Definition of Senior Exemption:
Senior Exemption's in Orange County:
This is a property tax reduction for eligible senior citizens in Orange County who are 55-years old or more who are buying a new home. Click here for current guidelines in Orange County, California. Occasionally an Orange County agent may run across listings will say No Senior Exemption - this means that you can't file for the property tax reduction even if you're eligible.
Prop. 60 was a constitutional amendment approved by the voters of California in 1986. It is codified in Section 69.5 of the Revenue & Taxation Code, and allows the transfer of an existing Proposition 13 base year value from a former residence to a replacement residence, if certain conditions are met.