PROP
5

PERMITS LEGISLATURE TO EXCLUDE NEWLY CONSTRUCTED RAIN-CAPTURE SYSTEMS FROM PROPERTY-TAX REASSESSMENT REQUIREMENT. LEGISLATIVE CONSTITUTIONAL AMENDMENT.

SUMMARY

Put on the Ballot by Petition Signatures

Removes certain transfer requirements for homeowners over 55, severely disabled homeowners, and contaminated or disaster-destroyed property. Fiscal Impact: Schools and local governments each would lose over $100 million in annual property taxes early on, growing to about $1 billion per year. Similar increase in state costs to backfill school property tax losses.

WHAT YOUR VOTE MEANS

YES A YES vote on this measure means: All homeowners who are over 55 (or who meet other qualifications) would be eligible for property tax savings when they move to a different home.

NO A NO vote on this measure means: Certain homeowners who are over 55 (or who meet other qualifications) would continue to be eligible for property tax savings when they move to a different home.

 

ARGUMENTS

PRO Prop. 5 eliminates the "moving penalty" that currently hurts SENIORS (55+) and SEVERELY DISABLED Californians. YES means SENIORS and SEVERELY DISABLED can purchase a new primary residence and not face this property tax penalty. YES allows SENIORS/ SEVERELY DISABLED to move near family or purchase more practical, safer homes.

CON Prop. 5 doesn't build any new housing or help first-time homebuyers purchase homes. It will cut up to $1 billion in local revenue from public schools, fire, police, health care and other services for tax breaks for wealthy Californians and to help its authors—corporate real estate interests. NoProp5.com

FOR ADDITIONAL INFORMATION

FOR
Cary Davidson
Yes on 5 Committee
515 S. Figueroa Street,
#1110
Los Angeles, CA 90071
(888) 384-8467
info@propertytaxfairness.com
voteyesonprop5.com
AGAINST
No on Prop 5
1510 J Street, Suite 210
Sacramento, CA 95814
(916) 443-7817
info@NoProp5.com
NoProp5.com

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