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Those opposing the proposition argued that the proposition would make it easier for bond debt to increase, leading to higher property taxes. [12] It was also argued that Proposition 5 was an attempt by Democrats to dodge property tax restrictions under Proposition 13. [3]
Proposition 5, also known as Prop 5 or Property Tax Transfer Initiative, was a 2018 California ballot proposition intended to allow people buying houses who are severely disabled or 55 and over to transfer their tax assesments from their previous house to their new house regardless of the new house's market value or the location of the new house.
The existing supermajority requirement for local bond approval goes back to the series of tax restrictions in California's Constitution inaugurated by the passage of Proposition 13 in 1978.
If approved by California voters, Proposition 5 would make it easier for local bond measures, and the tax increases that often accompany them, to pass.
A ballot measure that would have lowered the approval threshold for local bonds to support affordable housing and other projects failed.
Various economic factors have led to taxpayer initiatives in various states to limit property tax. California Proposition 13 (1978) amended the California Constitution to limit aggregate property taxes to 1% of the "full cash value of such property." It also limited the increase in assessed value of real property to an inflation factor that was ...
Proposition 5 This measure would make it easier for local governments to approve bonds and tax measures that fund affordable housing and some public infrastructure.
Repeals 2008 California Proposition 8 and declares in the state constitution that the "right to marry is a fundamental right", effectively allowing same-sex couples to once again marry. [23] 4: Passed Authorizes the issuance of $10 billion in bonds to fund various water infrastructure, energy, and environmental protection projects. [24] 5: Failed