Because Prop 13 ties your property tax to your original purchase price, long-term LA homeowners often carry a tax basis well below current market value. That doesn’t reduce what a buyer offers you, but it’s worth understanding as part of your full financial picture, especially for inherited properties where the tax basis may have stepped up. This isn’t tax advice, talk to your CPA about how your specific basis and any step-up would apply. We’re happy to walk through how a sale fits your overall situation.
I’ve owned my home a long time. How does Proposition 13 affect what I’d net from selling?
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About the Author: Damon Lines
Damon Lines has been buying and selling real estate in Southern California for more than 25 years. He founded Seller's Advantage in 2015 with one straightforward idea: give homeowners a better way out. No repairs, no commissions, no games.
In that time, Damon and his team have helped thousands of homeowners across Los Angeles, Orange County, Riverside, San Bernardino, and Ventura counties sell their homes on their own terms. Whether someone is dealing with an inherited property, a difficult tenant situation, a looming foreclosure, or just a house they need to move on from, Damon has seen it and helped with it.
He's not just a behind-the-scenes operator either. Damon regularly breaks down the Southern California housing market on KLOS 95.5 FM, KFI AM 640, and ESPN LA 710 AM, and has been featured on FOX 11, ABC7, CBS, and NBC. His take on real estate is the same on air as it is in person: direct, honest, and always on the homeowner's side.
If you're thinking about selling, Damon's team is ready to make you an offer within 24 hours.
