Inherited a Tiburon home?

I love Tiburon. The light off the bay in the late afternoon, the ferry easing in, the way people still say hello on Ark Row. So when a family calls me because they have inherited a parent's home here, I don't treat it like a transaction. It is somebody's whole life, and it deserves care.

If you have inherited a parent's home, or you can see that day coming, there is a piece of California law worth understanding. It is called Proposition 19, and it has been on the books for a few years now. The trouble is that most families never think about it until they are right in the middle of things, and for those of us with longtime homes in a place like ours, it quietly changed the math on passing a home down.

Here is the heart of it. For years, California kids could inherit a parent's home and keep that low, longtime property tax bill. Prop 19 made that much harder. To hold onto a reduced tax base now, an heir has to move in and make the home their primary residence soon after inheriting. A vacation home or a rental no longer qualifies, and even when you do move in, only part of the value is protected. The rest gets reassessed to today's market value, which can mean a property tax bill far higher than what your parents paid.

For a lot of heirs who live out of the area, or who have careers and kids somewhere else, moving into the family home just is not realistic. That is why so many families decide to sell.

And selling is often the easier path. A home inherited at a parent's passing is usually owned free and clear, so there is no mortgage pressure while you decide. It also tends to come with tax advantages that can keep what you owe on a sale surprisingly low. So while the property tax side got harder, the sale itself is often pretty clean.

The part I really care about is the human side. Carrying costs quietly pile up while an empty house waits. Siblings don't always agree. And the home holds memories, because it was never just a building. My job is to make the whole thing simple, well timed, and fair to every heir, so you can focus on your family instead of a long list of tasks.

If you are thinking through an inherited Tiburon home and want someone local to talk it over with, I am here. You can find me at talltammyinmarin.com.

Tammy Riemer, eXp Realty