The History of Prop 13 Prop 58 Prop 60 Prop 90 and Prop 19 with Retired Assessor Larry Stone
Feb 04, 2026California’s property tax system can be confusing—even for real estate professionals. From Prop 13’s landmark 1978 changes to Prop 19’s expansion of transfer rights, understanding how these rules work is essential for homeowners, seniors planning a move, and families inheriting property.
Watch the Full Kapowich Vault Interview
In this 27-minute interview, retired Assessor Larry Stone covers:
- The complete history of Prop 13, 58, 60, 90, and 193
- How Prop 19 expanded senior transfer rights to all 58 counties
- Trade-up provisions and three lifetime transfers
- New residency requirements for inherited properties
- The famous Lloyd Bridges case and why it matters
- Why Prop 5 failed and how Prop 19 succeeded
- Family farm protections
- Economic cycle analysis from a 30-year county assessor
In this interview from the Kapowich Vault, I sat down with Larry Stone, who served as Santa Clara County Assessor from 1995 until his retirement on July 6, 2025. With 30 years overseeing property assessments in Silicon Valley and 47 years in public service, Larry is the longest-serving elected official in Santa Clara County history—and uniquely qualified to explain how California property taxes really work.
- š NOTE: This interview was recorded when Prop 19 appeared on the California ballot. Larry Stone has since retired after 30 distinguished years as Santa Clara County Assessor (1995-2025). The information in this interview remains essential for understanding how California property taxes work today.
NOTE: This interview was recorded when Prop 19 appeared on the California ballot. The information remains essential for understanding how California property taxes work today—especially for seniors considering a move and families planning property transfers.
14:00 - Fiscal Impact: Winners & Losers by County
15:38 - Opposition & Support: Who’s Behind Prop 19?
18:20 - Out-of-State Investors & Market Downturns
19:28 - Larry Stone’s Career: Wall Street to Silicon Valley
20:27 - Economic Cycles: COVID Recession Analysis
23:05 - Comparing Recessions: 2008 vs. COVID vs. Dot-Com
25:15 - The S&L Crisis & Lessons Learned
26:40 - Closing Remarks
- If you’re a senior considering a move, a family planning an inheritance, or a homeowner with questions about how Prop 19 affects your situation, I’m here to help. As a California Real Estate Broker with 37 years of experience, I’ve guided hundreds of clients through complex property transactions across five Bay Area counties.
Contact me at (408) 245-7700 or Pat@SiliconValleyBroker.com
DISCLAIMER:
This video and blog post are provided for educational and informational purposes only. The content is not intended as legal, tax, or financial advice. Property tax laws and regulations are subject to change, and individual circumstances vary. Consult with a qualified tax professional, attorney, or your county assessor’s office for advice specific to your situation. The information presented reflects the rules as discussed at the time of recording and may not reflect current law or practice. Pat Kapowich and Kapowich Real Estate make no warranties or representations regarding the accuracy or completeness of this information.
