California Passed AB 1885 to Increase Its Homestead Exemption
On Monday, August 31, 2020, the state of California legislature passed AB 1885, to increase the California homestead exemption. The bill will eliminate the current 3-tiered homestead exemption $75,000, $100,000, $175,000 C.C.P. Section 704.730 and replaces it with a county-based prior-year median single-family home value, with a floor of $300,000 and a ceiling of $600,000. Counties with home values between those numbers …
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