Vote Yes on Proposition 5

By Sunil The Fremont Realtor - October 12, 2018

Not understanding why Prop. 5 is favored should be favored by young and old, and by urban dwellers and rural dwellers. Prop. 5 provides an incentive for older homeowners to move to less expensive (think rural areas) and take their reduced property tax basis with them. Theses older home owners, have been reluctant to leave their inner cities home often because of loss of their lower property tax basis. By moving to these outer cities, they would increase sales tax, marginally increase housing demand in these areas, and thereby increase the property tax as well as raise home values for these communities. These older home owners, would not be utilizing schools, so they would not be creating a school crisis like we've seen here from rapid development. The new home owners that would buy the homes from the families that leave in the urban areas would be paying property taxes based on today's valuation so property tax revenue increases. Why we need this is to help provide more housing options, for the younger working population. I would rather do this, than keep building more homes, and deal with the congestion it is creating.