Real Estate Exam [California] 33, Property Tax, Proposition 13, and Proposition 19

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:
- How Proposition 13 establishes a base-year value and limits annual property tax increases to 1% of assessed value and a 2% maximum annual adjustment.
- The function of a supplemental tax bill, which is issued following a sale to cover the difference between the old and new assessed values mid-year.
- The difference between the general tax levy and special assessments like Mello-Roos, which are not subject to Prop 13's 1% limit.
- The key portability benefits of Proposition 19, allowing homeowners over 55 to transfer their tax base to a new primary residence anywhere in California.
- How the Homeowner's Exemption reduces the assessed value by $7,000 for an owner-occupied principal residence.

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