Prop. 13 Ballot Drive Hopes To Aid OC Seniors, CA Realtors Say

The California Association of Realtors has launched a signature drive to put a new proposition on the November 2018 ballots. The goal, according to a report by the Orange County Register, is to overhaul Proposition 13 by expanding tax breaks for disabled homeowners, and for homeowners who are aged 55 and older.

According to local realtors, over 70-percent of seniors have lived in their current residences for 15 years or more. If brought to a vote and passed, the proposed changes would aid those who feel "locked in their homes" by blending their current low Prop. 13 tax rate with any new residence they purchase in the state.

"It's to make it easier for senior homeowners who want to move but don't want to see a big tax bill," CAR President Steve White told the Register. It will also put homes into circulation that haven't sold in over 15 years. Under the current Proposition 13, the taxable value of a home is set every time it sells, and capped at two percent a year after that.

According to the Register, a non-partisan state analysis agreed that the Prop. 13 proposal could boost the amount of homes sold in California, but might also bring added costs to local governments by as much as $2 billion a year in lost revenue. Realtors dispute that claim, the Register reported.

Photo, Ashley Ludwig, Patch Staff