{"id":142,"date":"2018-09-26T00:00:00","date_gmt":"2018-09-26T00:00:00","guid":{"rendered":""},"modified":"2018-09-26T00:00:00","modified_gmt":"2018-09-26T00:00:00","slug":"proposition-5-changes-requirements-for-certain-property-owners-to-transfer-their-property-tax-base-to-replacement-property-initiative-constitutional-amendment-and-statute-recommendation-no-position","status":"publish","type":"post","link":"http:\/\/churchimpact.org\/index.php\/2018\/09\/26\/proposition-5-changes-requirements-for-certain-property-owners-to-transfer-their-property-tax-base-to-replacement-property-initiative-constitutional-amendment-and-statute-recommendation-no-position\/","title":{"rendered":"Proposition 5: Changes Requirements for Certain Property Owners to Transfer Their Property Tax Base to Replacement Property. Initiative Constitutional Amendment and Statute.\u00a0\u00a0\u00a0Recommendation:\u00a0\u00a0No Position."},"content":{"rendered":"

\t\t\t\t<\/span>\"Picture\"<\/a><\/span><\/span> <\/p>\n

\u200bProposition 5 seeks to give tax reductions to people with disabilities and those over 55.\u00a0\u00a0In principle this is a good measure useful in a high priced housing market.\u00a0California\u2019s existing property tax law from the 1978 Proposition 13 has kept those taxes quite low, especially for those with older homes in which they have resided for many years.\u00a0\u00a0But those buying today find the new taxes very high, pegged to the market value of far more expensive homes.
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The problem comes when people need to move when they are older or disability strikes.\u00a0\u00a0These events tend to come with a reduction in income.\u00a0\u00a0The soaring home sale prices in the state make it harder for people to find smaller, handicapped \u2013access-friendly or lower maintenance accommodations that aren\u2019t considerably more expensive with higher property taxes than they have been paying. That makes them \u201chouse rich\u201d but \u201cincome poor\u201d.\u00a0While people may sell their existing home for profit to buy a new one, the monthly outlay on new, higher taxes may be prohibitive.\u00a0\u00a0Eleven counties now give a tax reduction to people with disabilities or those over 55.\u00a0This measure would direct all counties to honor that reduction so that people would be free to move.\u00a0\u00a0
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Counties are concerned that this would reduce a critical tax base and do harm to their public school funding as well.\u00a0\u00a0There are reasons why that is accurate and reasons why that may not be true since old houses would be sold at market value, But the concern as expressed by the Legislative Analyst\u2019s Office (LAO) is for a $1 billion loss to counties annually.
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The problems with this measure lie in the deep confusion of poorly worded guidelines.\u00a0\u00a0Our IMPACT Board came to very different conclusions about what different section meant, and making clear there would be many unintended consequences likely.\u00a0\u00a0There are clauses that make it seem this break is renewable and others stating it is a one- time claim.\u00a0\u00a0It appears to be hereditable which is a serious flaw.\u00a0
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With these poorly-delineated guidelines and uncertain standards, IMPACT supports the principle but cannot recommend this proposition, no matter how good the intent.\u00a0\u00a0<\/div>\n
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\u200bProposition 5 seeks to give tax reductions to people with disabilities and those over 55.\u00a0\u00a0In principle this is a good measure useful in a high … Read More ›<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-142","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/posts\/142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/comments?post=142"}],"version-history":[{"count":0,"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/posts\/142\/revisions"}],"wp:attachment":[{"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/media?parent=142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/categories?post=142"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/churchimpact.org\/index.php\/wp-json\/wp\/v2\/tags?post=142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}