Earlier this year, the California Association of Realtors (C.A.R.) began the effort to address California’s housing supply crisis as well as to increase home ownership opportunities for Californians by gathering nearly 1 million signatures—enough to qualify the Property Tax Fairness Initiative for the November 2018 General Election Ballot.
The initiative would eliminate the “moving penalty” for seniors 55 and older, the disabled, and victims of natural disasters, 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.
The current initiative will show up on the November 2018 ballot, and a revised initiative will be reviewed with the state Attorney General for the November 2020 ballot.
The November 2020 ballot initiative will move portability forward while at the same time generating revenue for schools and local governments by: 1) requiring reassessment in connection with inter-generational transfers where heirs keep property for investment purposes; and 2) tightening up the reassessment law to address corporate property transfers where “creative” efforts are used to avoid reassessment.
The Santa Clara County Tax Assessor’s office has expressed concern that this initiative will cut taxes and negatively impact schools and other beneficiaries of our local property taxes. It has been stated that it is “unfair” for neighbors to pay vastly differing taxes for the same services based only on the length of time they have owned their homes. But many of us feel that the current housing shortage is created by the inability of seniors to sell their homes and move to be closer to family and friends anywhere in the state. Since their children often can’t afford to buy in the Bay Area, many children from local families migrate to cities with cheaper housing, and their parents can’t afford to move with them due to capital gains penalties. And what of the fact that many seniors have paid into the school districts for many years beyond the graduation and migration of their now grown children, whereas new buyers buy for the schools and receive the benefit of our excellent school systems for many years?
No, the issue is clear – if we increase the ability of seniors to take their tax basis anywhere within the state there will be more movement, more sales, and ultimately more taxes in the highest-priced areas.
Support the Property Tax Fairness Initiative in November!
The issue of rental control is hotly debated and does not have a simple solution. There are reasonable positions on both sides of the argument – rental rates are tough for many to afford, and landlords who own rentals for retirement income should be able to charge rates sufficient to maintain the property and earn a profit to justify the investment.
If Proposition 10 is passed, the measure would repeal the 1995 Costa Hawkins Rental Housing Act, which sets limits on the kind of rent control policies cities are able to impose. Right now, 15 California cities have rent control policies including San Jose & Mountain View.
If passed, Landlords will be severely restricted and would be forced to give up many of their rights as landlords.
Passing Prop 10 would:
- Provide City Bureaucrats the power to impose rent control on Single Family Rentals, Condominium Rentals and Duplex Rentals
- Mandate Just Cause Evictions on all residential rentals including Single Family Rentals, Condominiums and Duplexes
- Allow cities to institute permanent price controls on vacant units, capping rents landlords can charge
If Prop 10 passes, we transfer crucial property ownership rights to City Council Members. Do we really need bureaucrats imposing more rental restrictions on properties?
Only a few more weeks of summer break remains before the kids head back to school next month, but the city of Mountain View still has several local family-oriented summer events to help ease the transition. Here’s a list of some of the remaining summer-time activities:
Concert on the Plaza
Civic Center Plaza, 500 Castro Street, Mountain View, 6:00 p.m. to 7:30 p.m.
August 3, 2018 – Garrick Davis
September 7, 2018 – Jerry Jay Quartet
Theatre in the Park
Peninsula Youth Theatre and the City of Mountain View present children’s theatre on the Center’s outdoor ParkStage (located at 500 Castro Street, adjacent to Pioneer Park), 630pm.
August 3: Blather, Blarney, and Balderdash
August 10: Aladdin
Summer Outdoor Movie Night
All movies begin at 8:30 p.m. or when dark outside. Bring a blanket or lawn chair to sit on.
August 3, 2018 at Eagle Park – Cars 3
August 10, 2018 at Rengstorff Park – Smurfs: The Lost Village
August 17, 2018 at Whisman Park – Coco
With the current heat wave, many local residents have been thinking of adding a pool or renovating the one they already have. According to the Los Altos Building Division, there has been an increase of requests for pool construction permits this summer. Click on the link below for more on this topic.