A No on Prop 5 vote, is a Yes for Investment in Our Livelihoods – our schools, health clinics, senior centers, parks, libraries and other crucial community services. As if our communities are not already starved for funding, corporate special interests are attempting to take an additional $1 Billion per year away.
Proposition 5, backed by the California Association of Realtors, would create a tax break for wealthy, long-term homeowners. An expansion of the notorious 40-year-old Prop 13, we, as voters, have the power to stop this deceptively disguised money grab! By allowing homeowners 55 or older to take their current property tax assessments on their homes with them when they buy a more expensive house, we will lose out on $2 billion in state and local revenue – leaving a gap that will result in service cuts or raises in fees and/or taxes for the rest of us.
Backers of Prop 5 claim that it is a solution to our housing crisis. But the reality is that it would create more competition for housing.
Join us along with SEIU of California, the California Teachers Association, and many others in voting No to Prop 5 this November 6th.
Los Angeles Times Editorial: Proposition 5 is a cynical, self-serving measure cooked up by the real estate industry. Vote No
“Proposition 5 goes too far, costs too much and serves no important public purpose. It would skew tax breaks further away from people who don’t own a home or who may be struggling to buy one. It would cost taxpayers billions of dollars each year. What’s more, it’s a cynical, self-serving measure promoted by a single interest group. It deserves a no vote.”
Mercury News Editorial: Prop. 5 worsens already-broken state property tax system – Initiative expands tax breaks for long-term homeowners who already pay lower tax bills
Sacramento Bee Editorial: Supporters say Proposition 5 would help California’s housing crisis. That’s a sham