Welcome back to Propositioned! Hosted by KFI's Kris Ankarlo, this limited series podcast is back to take a look at the 11 different propositions you'll see at the ballot box this November 6!
Now in its third season, Propositioned is a chance for both sides on each question to make their case to you, the voter. Then you can take that information with you to the voter booth.
Today's episode of Propositioned takes a look at Prop. 5, a ballot measure that may get Grandma and Grandpa moving if it passes.
If passed, Prop. 5 would give seniors 55 and older (or the severely disabled) greater freedom to move without increasing their tax bill through the elimination of the 'moving penalty' imposed by Prop. 13.
Opponents call the measure a deal local governments can't afford, and wouldn't do much to end the affordable housing crisis in California.
Take a listen to both sides of the issue with episode 6 of Propositioned!
Here's the official language on the ballot for Proposition 4:
Removes certain transfer requirements for homeowners over 55, severely disabled homeowners, and contaminated or disaster-destroyed property. Fiscal Impact: Schools and local governments each would lose over $100 million in annual property taxes early on, growing to about $1 billion per year. Similar increase in state costs to backfill school property tax losses.
Here's what a YES vote means:
A YES vote on this measure means: All homeowners who are over 55 (or who meet other qualifications) would be eligible for property tax savings when they move to a different home.
Here's what a NO vote means:
A NO vote on this measure means: Certain homeowners who are over 55 (or who meet other qualifications) would continue to be eligible for property tax savings when they move to a different home.
Photo: Getty Images