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National News: Proposition 5 Will Be on the November 5th Ballot!

  • Writer: Debora Sanders
    Debora Sanders
  • Jan 27, 2022
  • 1 min read

The California Association of Realtors has collected enough signatures to get Proposition 5 onto the November 2018 General Election Ballot. This could help a lot of home owners who are looking to move within the State of California! Take a look at the main points of the initiative:
  • Remove the “moving penalty” for seniors 55 and older, the disabled, victims of natural disasters, and those whose homes are located on contaminated property, allowing them to carry their current Proposition 13-protected property tax assessment level to another home of any price, anywhere in the state, any number of times.

  • Eliminate intergenerational transfers of primary residences and other inherited property being used as income-producing properties without reassessment.

  • Address abuses by commercial property owners who avoid property tax reassessment by means of “creative” transfers

If you would like to learn more about the Proposition, click on this link

 
 
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Sotheby's International Realty
3775 Via Nona Marie Suite 100, Carmel CA 93923
831-620-2936

License: DRE#01966114

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Debora Sanders is a real estate salesperson licensed by the state of California affiliated with Sotheby's International Realty. Sotheby's International Realty is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting, or other professional advice outside the realm of real estate brokerage.

*All Rights Reserved*

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