Proposition 5 amends the California Constitution to expand guidelines for property tax savings for eligible homeowners when they buy a home in addition to their primary home. The measure would allow homeowners to transfer the taxable value of their homes to other, more expensive homes anywhere in the state. It would reduce taxes for newly-purchased homes that are less expensive, and it would remove limits on the number of times homeowners can use these guidelines.
- California Budget & Policy Center
- California Choices
- KCET Ballot Brief
- League of Women Voters
- Legislative Analyst's Office
- Project for an Informed Electorate
- Voter's Edge
Supporters of Proposition 5 claim the measure will help protect seniors and disabled people by giving them the right to move without property tax penalties. Since many seniors and disabled citizens live on fixed incomes, proponents say they are particularly vulnerable to existing property taxes for moving homes.
Opponents claim the measure will raise housing prices, cost local schools and services revenue, and will primarily benefit the wealthy and the real estate industry. They claim the measure does nothing to address the housing crisis.