Under certain circumstances owners may avoid property tax increases when they sell their existing home and buy or build a replacement home. You or your spouse must be 55 years of age or older, and the property must be the principal place of residence. In addition, there are limits on the value of the replacement home. If you buy it before you sell, it has to be the same or less value than the house you sold. If on the other hand, you buy after you sell, a house bought in the first year may have up to 105% of the value of the house you sold, or 110% if bought in the second year.
There is no partial exclusion allowed if these values are exceeded. The replacement residence must be purchased within two years from the sale of the original property.
Finally, both the original and replacement properties must be eligible for a Homeowners' Exemption and be located within Stanislaus County.
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