Deceived by Proposition 19?

Proposition 19 passed last month in California. It allows residents to transfer their property tax break anywhere in the state. However, it repealed the ability to transfer real estate tax breaks within families which could result in a one billion dollar tax increase for California residents.

My own personal opinion on Prop 19: Family transfers can still be made without an increase in Property Taxes, as long as the child moves into the house. The big change is, if the child decides to keep the home, not move in, and either rents it out or not, property taxes will be reassessed at market value. You can still leave your house to your child/children; however, whatever they decide to do with it will determine whether property taxes will increase. Naturally, before making any decision on your real estate investments, it’s best to consult with a California real estate attorney and CPA.

Deceived by proposition 19?

The California voter guide mentioned both sides of Prop. 19, unfortunately, too many people get their information from headlines, memes and TV commercials, and couldn’t be bothered with reading the voter guide. That’s probably how the new gas tax got passed, and the proposition to repeal the new gas tax got voted down! It would seem to me that the vast number of California voters are low information voters. These are the voters that are influenced by the deceptive radio and TV ads and just read the first line or two of the propositions summary that is written by the California Atty. Gen. to always favor liberal, socialist policies. Yes, even the Los Angeles times recently criticized the California Atty. Gen. writing very misleading headlines for the propositions! The the huge amount of California low information voters have and continue voting to screw themselves and hasten the destruction of the middle class in California.

Back in October I wrote a few posts (see links below) trying to warn people about this deceptive proposition. But when you have millions of dollars highlighting just the positive side of a proposition, it’s almost impossible without matching funds to get the word out about the true impact of the proposition.

My October posts on Prop. 19:

https://brokerforyou.com/brokerforyou/prop-19-tax-increase/

https://brokerforyou.com/brokerforyou/proposition-19-no-on-massive-real-estate-tax/

It’s very disheartening to know that the California Association of Realtors not only proposed this proposition but backed it with members dues promoting just one side of the effects of its passage. As a Realtor, it’s ingrained in you to be totally honest with the parties in any real estate transaction. You even have to take an ethics course for every renewal of your real estate license. But yet there is a very fine gray line separating truth and deception, and it’s my personal opinion that by promoting just one side of this proposition by the California Association of Realtors, crossed that line.

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Deceived by Proposition 19?

Deceived by proposition 19?

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