Expert: Sue Bernstein - 9/27/2006

Question
My husband and I purchased our home in 1980 (in Fillmore, CA).  We used the VA Plan.  We have thought about selling and moving since the kids are grown and gone but my husband said we would be paying a lot more in taxes.  We were told by a friend that since my husband is 55 we would keep the same tax rate we currently have.  Which is the true statement?  I won't be 55 until 11/07.  Thank you.

Answer
Sharron,

Yes, it is true that you can probably transfer your existing tax rate.  The only thing that you have to check (and your local agent can find this out for you) is if your county and the county you are moving to participate in this program.

Good luck and I hope this helps.

Sue Bernstein