A proposal from the California Association of Realtors is looking to expand Proposition 13, the constitutional amendment passed in 1978 that has kept homeowners' property taxes low over the years, even as their home values go way up.
Under the proposed initiative, homeowners who are older than 55 or have a sever disability would be able to keep those lower obligations for life, regardless of how many times they move.
They just have to stay in California. Alex Creel, a lobbyist for the California Association of Realtors, told Bay Area News Group:
“A lot of older people — and I’m one of those older people, by the way — are feeling locked into their properties. They’re holding onto their property not because they like their house, but because they like their taxes.”
Steve White, President of the California Association of Realtors, joined us this afternoon to discuss the idea further: