NO

Stop corporate attempt to take $2 billion per year away from our schools and communities

Instead of solving California’s severe housing crisis, the real estate industry is pitting seniors against hopeful homeowners to profit from the increasing sale of expensive homes. Prop 5 finds new ways to benefit the wealthy and robs our schools and local communities of critically needed revenue.

Prop 5 does not create new affordable housing, lower the cost of rent, address homelessness, or help first-time homebuyers. Instead, Prop 5 is a tax giveaway to wealthy seniors who decide to buy a new, more expensive home outside the county they currently live in. Seniors can already transfer their property tax discount if they buy a retirement home in the county they now live in. To make things worse, Prop 5 is another huge blow to local communities. At a time when we need to restore funding to schools and local services, Prop 5 would take away over $2 billion every year from schools, health care services, infrastructure improvements, and public safety.