2018 California Proposition 5 Explained

Proposition 5, also known as Prop 5 or Property Tax Transfer Initiative, was a 2018 California ballot proposition intended to allow people buying houses who are severely disabled or 55 and over to transfer their tax assesments from their previous house to their new house regardless of the new house's market value or the location of the new house. It failed in the November 2018 California elections.[1] [2] The ballot initiative was formed by the California Association of Realtors.[3] Opponents of the initiative included the California Teachers Association and Asm. David Chiu (politician).[4]

Result

!Result!Votes!Percentage
Yes4,813,25140.22
No7,152,99359.78[5]

Notes and References

  1. Web site: California Proposition 5, Property Tax Transfer Initiative (2018) . 2023-11-10 . Ballotpedia . en.
  2. Web site: Aug 9, 2017 . Re: People's Initiative to Protect Proposition 13 Savings, Version 3 (17-0013) . https://web.archive.org/web/20230723123409/https://www.oag.ca.gov/system/files/initiatives/pdfs/17-0013%20(Property%20Tax%20V3).pdf . 2023-07-23 . 2023-11-10 . California Association of Realtors.
  3. Web site: Import . N. C. S. . 2017-11-29 . Realtors join forces with statewide tax basis portability effort . 2023-11-10 . The Union . en.
  4. Web site: Group . Katy Murphy Bay Area News . 2017-12-11 . Giving Grandma a tax break to get more homes on the market: realtors' Prop. 13 ballot proposal . 2023-11-10 . The Mercury News . en-US.
  5. Web site: Nov 6, 2018 . Statement of Vote . https://web.archive.org/web/20230320193020/https://elections.cdn.sos.ca.gov/sov/2018-general/sov/2018-complete-sov.pdf . 2023-03-20 . 2023-11-10.

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