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Voting Guide 2018
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Well it's after midnight and I've finished making my selections in my voter guide.
I've decided to vote no on prop 5. This is the prop that will allow those over 55 or disabled to transfer their current property tax to a new property. The intent is to limit the property tax impact of more expensive property and reduce tax on less expensive property.
Although a noble goal, I'm voting no simply because this leads to another exemption for another select group of citizens that's not available to the rest of the state citizens (though I wouldn't be surprised if the dems also apply this to all illegals regardless of age).
We all don't like it when LEO gets special gun buying privileges just because they are LEO. This prop is no different. Prop 5 should apply to everyone or no one. If pricing out a senior is a real concern then a property tax break can be based on income instead.
By the way, I'm over 55 and have been in my current home for years.
I've decided to throw this out here so you can think about it over the next day and a half.Comment
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Frees Up Housing Market
The idea here is to free up large houses (currently used by seniors whose kids have moved out) for families and allow the seniors to downsize without being penalized by taxes. This frees up housing and hopefully should create more competition and cheaper housing, so I'll vote yes on this one. California taxes are too high due to all the freeloader immigrants taxing the natives to pay for welfare and schooling - why should seniors be taxed for welfare and schooling for illegals when they do not have kids in school?
Well it's after midnight and I've finished making my selections in my voter guide.
I've decided to vote no on prop 5. This is the prop that will allow those over 55 or disabled to transfer their current property tax to a new property. The intent is to limit the property tax impact of more expensive property and reduce tax on less expensive property.
Although a noble goal, I'm voting no simply because this leads to another exemption for another select group of citizens that's not available to the rest of the state citizens (though I wouldn't be surprised if the dems also apply this to all illegals regardless of age).
We all don't like it when LEO gets special gun buying privileges just because they are LEO. This prop is no different. Prop 5 should apply to everyone or no one. If pricing out a senior is a real concern then a property tax break can be based on income instead.
By the way, I'm over 55 and have been in my current home for years.
I've decided to throw this out here so you can think about it over the next day and a half.Comment
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The general election guide gives an example of how this works where the 55 crowd sells their home for 600K that they had bought for 200K. They buy a home for 700K but only pay taxes on a 300K value. All nice and good except ..... the family moving up into their old home will pay 600K for it. So the family, with all of the expenses of kids and starting out in life, have the excessive property tax bill based on 600K. The family should get a tax break too.
I can see the intent behind the Prop 5 but the prop does nothing to address the high cost of homes for the buyers.
The housing shortage is a classic supply vs demand but the demand can't be met due to restrictions and regulatory fees. Getting the state government out of or at least restricting its effect on building new housing is the long term solution. This is the same reason I'm voting no on Prop 10 rent control. Sure it will control rent increases in the short term, but in the long term the housing shortage will be that much greater because no one will be building rental units due to the reduced return on them.
There is no way to fairly divide the various taxes. Just think of it as the seniors are paying taxes for roads and public services while the families are paying for the schools. Neither group is getting a good deal. I do agree though that there are too many people in this state who are takers. Way past time to kick them out or make them makers.
There is one more irksome detail I have against Prop 5. The whole proposition is written around poor "seniors" who can't afford to move, etc. The minimum age in the prop is 55. 55 years old is no way no how "senior" age. Maybe 75 but not 55. I find that insulting, just like when I get mailers from AARP because I'm over 55.Comment
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