Proposition 5 Would Give Older Californians A Tax Break

Tuesday, October 16, 2018

By Maureen Cavanaugh

Photo by Associated Press

Above: A house for sale in San Diego, Aug. 14, 2013.

Aired 10/16/18 on KPBS Midday Edition

Proposition 5 Would Give Older Californians A Tax Break

GUEST:

Scott Shafer, senior editor, KQED's Politics and Government Desk

Transcript for audioclip 41999

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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