property tax | KALW

property tax

Flickr, TaxRebate.org.uk

 

Proposition 5 would amend the controversial 1978 law known as Proposition 13, which freezes property tax rates as homes appreciate over time. The new proposition would allow homebuyers who are over 55 or severely disabled to transfer their tax assessments when they move homes — that means, instead of paying the higher tax rate that often comes with a new purchase, they’d keep paying taxes at the rate that was set when they purchased their last home. As long as the new home is of equal or less value.

 

Liza Veale

 

If you’ve heard of Proposition 13, you probably know that it cut property taxes back in 1978, which reduced funding for public schools and other services. It also has a lot to do with the state’s shortage of housing and, many argue, the fact that rents are so darn high.

Daily news roundup for Wednesday, September 16, 2015

Sep 16, 2015
Youtube / SFGate

Here’s what’s happening in the Bay Area, as curated by KALW News:

SFMTA says it needs $21 billion for next 20 years // SF Examiner

"Money makes transit go ’round. And in San Francisco, a new number has been identified to do just that: $21 billion.

Host David Onek and guests dive into one of this election's most contentious ballot measures:  Proposition G.  Known as an "anti-speculation" tax, Prop G has ardent support and robust opposition, reflecting ongoing tension about the high cost of housing in San Francisco.

Would Prop G make San Francisco housing more affordable?

Is it an effective deterrent to real estate speculation, or is it just a major new tax on property owners?

Guests: