[NohSpinZone]

I don't think this would have a prayer of getting through in this commie state. Frankly, I'm not even sure how I'd feel about this as a home owner in this state who would not yet qualify.

There are a lot of very rich San Francisco, Peninsula elderly who don't need the tax break who would get a massive one. That would not play well around here.

[headstamp 2]

[that has kept homeowners’ property taxes artificially low]

as opposed to artificially high. LOL

[LurkedLongEnough]

It’s a trap!

[Attention Surplus Disorder]

“Artifically” low?

The state owns all your money, I bet you didn’t know that.

[longtermmemmory]

it is not artificially low. It is just limiting the government by not feeding the beast.

This is “portability” of the cap. Makes sense to keep people in the market. Just eliminate the age restriction.

[eyeamok]

There shall be No Tax on property for those that receive 50% or more of their annual income from Social Security.

Would be much better

[CIB-173RDABN]

Proposition 13, the landmark constitutional amendment passed by voters in 1978 that has kept homeowners’ property taxes artificially low over the years, even as their home values have doubled or even quadrupled.

---

The homeowner does not see any value in their home unless sold. The next buyer begins paying taxes based on the resell price.

I have lived in my home for 40 years. It is paid off. I can afford the property taxes now (one months social security check).

But if I had to pay taxes based on what the resell value is I would not be able to afford the taxes. My income is fixed. I would be forced out of my home. This is the reason for Prop 13 to keep old people on fixed incomes from being forced to sell because they could not afford the taxes.

[truth_seeker]

A person 55 or older could transfer a lower property tax basis to a replacement property in any county. Not just the 11 counties currently participating in prop. 60 and 90.

That is my quick and dirty take on this measure. The legislature passed the measure, but voters need to ratify by a simple majority.

[Haiku Guy]

A huge number of houses in California are occupied by people who would like to sell and move, but don’t do so because they would lose their grandfathered property taxes. My brother has been in the same house for thirty years. If he sold and moved to a similar house, his property tax would increase 10 times over.