Proposition 5 -

Summary

A “yes” vote expands opportunities for homeowners who are severely disabled or over the age of 55 to change the property they are taxed on or make a tax adjustment.

A “no” vote would maintain current limitations on homeowners who are severely disabled or over the age of 55 to change the property they are taxed on or make a tax adjustment.

Arguments

According to Shamus Roller of the National Housing Law Project, seniors and people with disabilities may already transfer their property taxes once when moving to a less expensive home. The proposal would mainly benefit wealthy seniors who are more likely to move frequently to more expensive homes throughout the state., in opposition to Proposition 5 (Learn more)

According to Shamus Roller of the National Housing Law Project, this initiative will only worsen the housing crisis in California and increase taxes over time due to major losses of funding caused by the passage of this new law. Because the measure applies to homeowners exclusively, it will negatively impact renters. , in opposition to Proposition 5 (Learn more)

According to Penny Lilburn of the Highland Senior Center, the proposition would provide a strong stimulus to the real estate market and eventually raise enough revenue in property taxes on new homeowners to offset revenue losses from seniors and people with disabilities using the special rules., in support of Proposition 5 (Learn more)

According to Penny Lilburn, Executive Director of the Highland Senior Center, this measure could help seniors and severely disabled people move freely to homes that better suit their needs by lifting restrictions on how many times they can transfer property tax rates to another property in the state. , in support of Proposition 5 (Learn more)

According to an independent legislative analyst hired by the State of California to conduct an investigation into the ballot measure, this measure gives an unfair advantage to older homebuyers with more money to purchase homes, putting younger, first-time homebuyers at a disadvantage in an expensive housing market. , in opposition to Proposition 5 (Learn more)

According to an independent legislative analyst hired by the State of California to conduct an investigation into the ballot measure, this measure could assist persons on a fixed income, such as retirees, to transfer property tax rates to new homes which may have posed a costly tax increase for them. , in support of Proposition 5 (Learn more)

The Legislative Analyst’s Office estimates that the proposition could cost K-12 schools, community colleges and local governments up to $1 billion per year. , in opposition to Proposition 5 (Learn more)

Measure Details