CSBA opposes Proposition 5 - Property tax transfers
Homeowners 55 years of age or older (or a severely disabled homeowner) are allowed to transfer their property tax assessment to a new home of equal or lesser value, and may do so only once in their lifetime; this transfer is typically limited to a new residence within the same county, unless approved by the receiving county.
If Proposition 5 passes:
This lower property tax base could follow these homeowners around the state as many times as the homeowner moves without any increases in their property taxes, and without regard to the new home’s actual value or its location in the state.
Proposition 5 fiscal impact on local educational agencies:
The Legislative Analyst’s Office estimates short term costs to schools at $150 million annually, growing to more than $1 billion annually.
View full text of CSBA-opposed Proposition 5.
CSBA does not have a position on any of the other 11 propositions on the November 2018 ballot.
There are two ways a measure can be placed on the ballot.
- The Legislature has the ability to place constitutional amendments, bond measures, and proposed changes in law on the ballot.
- Any California voter can put an initiative or a referendum on the ballot by following the "How to Qualify an Initiative" process.
A statewide ballot measure can be approved by a majority vote of the people. Certain local ballot measures require approval by a 55 percent or a two-thirds vote of the electorate.
To view measures that have qualified for the November ballot, see the California Secretary of State's website.