Prop 5 Property Tax Fairness Initiative on the November 6th Ballot. Prop 13 enacted in the 70s to help Californias seniors keep their real estate taxes at a resonable rate even if property values
What Impact Does Prop 5 Have on Prop 13
Prop 5 Property Tax Fairness Initiative on the November 6th Ballot.
Prop 13 enacted in the 70s to help Californias seniors keep their real estate taxes at a resonable rate even if property values appreciated.
The purpose of Prop 5 is to allow homeowners, 55 and older, to take that tax base to any County in California, thus giving seniors more options.
Currently you can move your tax base within the county where you reside, and transfer to only 11other Counties in the State.
As with anything there are pros and cons for the initiative yet it is important that tax payers understand the impact of the bill. Those in favor believe this is an opportunity for seniors to downsize thus freeing up inventory.
Those against believe that Prop 5 will lead to hundreds of millions of dollars leading to revenue losses to schools, fire, police and health care.
Whether your are for or against, your voice needs to be heard. Please do your own research before making a decision.
As a potential client you probably want to know what am I going to do for you….why choose me to represent you in the purchase or sale of your largest asset. I have been in the business for over 14 ....
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