Proposition 13 is a real estate term you will encounter when buying or selling a home in Ventura County. This page gives you a plain-English definition and explains why it matters.
What it means
Under Prop 13, a home's assessed value is generally set at its purchase price and can rise only by a limited amount each year, keeping property taxes predictable for long-term owners. When a property is sold, it is usually reassessed to current market value, which can significantly raise the new owner's tax bill. Special assessments like Mello-Roos are separate from the Prop 13 base rate.
Why it matters to buyers and sellers in Ventura County
For Ventura County homeowners who have owned for years, Prop 13 often means relatively low property taxes. Buyers should expect reassessment near their purchase price, which can be much higher than the prior owner's tax bill. Understanding Prop 13 helps buyers budget accurately and understand related rules like Prop 19.
Frequently Asked Questions
Does Prop 13 reset when I buy a home?
Generally yes. A change of ownership usually triggers reassessment to current market value, so a buyer's taxes are based on the purchase price, not the prior owner's assessment.
How much can my assessed value rise each year?
Under Prop 13, the assessed value can increase by no more than 2% per year while you own the property, absent a change of ownership or new construction.
Is Mello-Roos part of Prop 13?
No. Mello-Roos special taxes are separate assessments added on top of the Prop 13 base property tax.
