YES ON PROP 5 AND NO ON PROP 10
Readers of this blog know I like to avoid politics here. But I reserve my right to chime in on issues that could affect property values or quality of life.
There are two propositions on the ballot Nov 6th. I'm a firm believer that we should all exercise our right to vote and I'm hoping you will make the right vote on these two issues.
So here's the simple version of these 2 ballot initiatives.
Proposition 5 would allow people over 55 and some others to transfer their property tax basis to a new property.
In other words eligible home owners could move and carry their low property tax payments to any home, anywhere in the state.
Here's why that's important.
One of the many factors keeping potential Sellers I meet with in their homes is that if they were to sell and downsize, the property tax alone could be a deal breaker. The theory behind this is that it could potentially free up inventory. While that remains to be seen, I am still for it.
Proposition 10, on the other hand, would allow rent control in places it doesn't exist now. While that may seem like a good thing, not so sure. For one, I am against any restriction on property rights and don't want the government telling me how I can rent my house for.
Prop 10 may have the reverse outcome of what the backers are looking for. Landlords may do nothing to maintain properties if they fall under rent control and fewer people may invest in real estate.
So, go out and vote. Yes on 5, no on 10.