Proposition 5 Would Give Older Californians A Tax Break
Tuesday, October 16, 2018
Photo by Associated Press
Scott Shafer, senior editor, KQED's Politics and Government Desk
One of the propositions on the November ballot would give a property tax break to older California homeowners who want to buy a new house.
Proposition 5 would allow homeowners 55 and older and severely disabled people to purchase a new home, and then use a formula combining their new and old home values to come up with their property tax bill.
Proponents say this will start moving a stagnant area of the housing market, allowing young homeowners to move up. But opponents say older homeowners in California already have a number of property tax breaks, starting with Proposition 13 and the new measure would take property tax revenue away from county services and school districts.
Scott Shafer, senior editor for KQED's Politics and Government Desk, joins Midday Edition Tuesday to discuss Proposition 5.
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