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Tag: Real estate tax
California’s Estate & Inheritance Taxes: Who Pays & How Much? (2025 Edition)
Introduction If you live in California or inherit assets from someone who did, you may wonder whether estate or inheritance taxes apply. While California has no estate or inheritance tax, large estates may still be subject to federal estate tax and other income tax consequences. Here’s what you need to know in 2025. Does California […]
How Proposition 13 Protects California Homeowners from Rising Property Taxes (2025 Edition)
Introduction California homeowners have long enjoyed stable and predictable property taxes thanks to Proposition 13, a landmark law passed in 1978. If you’re a property owner in California—or plan to become one—understanding how Prop 13 works can save you money and stress in 2025 and beyond. What Is Proposition 13? Applicable Code: California Revenue & […]
Does California Have a Capital Gains Tax? Everything You Need to Know (2025 Edition)
Introduction Capital gains can impact your tax bill significantly—especially if you’re a California resident. Unlike the IRS, California doesn’t offer lower tax rates for long-term capital gains. Let’s break down how California treats capital gains in 2025 and how to report them properly. What Are Capital Gains? Applicable Code: IRC §1222; California Revenue & Taxation […]
How to Qualify for California’s Property Tax Exemptions & Save Money (2025 Edition)
Introduction Owning property in California can be expensive, but property tax exemptions may lower your tax bill significantly. Whether you’re a homeowner, senior citizen, veteran, or nonprofit, the state offers several ways to reduce your property taxes—legally and efficiently. Understanding California Property Taxes Applicable Code: California Revenue & Taxation Code §§ 50–100. Property tax is […]