01/15/2020
If you are going to vote this November.....PLEASE READ!
Good explanation about PROP 13
WHAT IS PROP 13?
With Prop 13 you pay one percent
of the purchase price of your home in property taxes, per year, with an annual increase of 2 % per year.
If you pay $500,000, your annual tax would be $5000, your 1st year, with a modest increase of 2 % per year.
WHY IS PROP 13 GOOD?
Say you bought your home 20 years ago for $150,000. Your annual tax bill would be $1500 or 1% of the sale price, plus the annual 2% increase. In 2020 Your home now is worth $550,000 (20 years later) your annual tax bill would be approximately $2230.
WHAT HAPPENS WHEN PROP 13 IS REPEALED?
That same home would be re-assessed at today’s value of $550,000 or $5500 in taxes
YOUR TAX BILL WILL DOUBLE
Say your your parents Or Grandparents bought their home in the SF Bay Area for $100,000 twenty years ago and it is now worth $2,000,000.
Their annual tax bill will jump to
$20,000 per year. That’s $1667 per month.
Can retired people or people on fixed income afford this?
OTHER NEGATIVE EFFECTS IF PROP 13 IS ELIMINATED.
1. Foreclosures will increase
Exponentially
2. Rents will increase dramatically
3. Less money for goods and
Goods and services
4. Many will be forced to sell their
homes because they can’t pay the
taxes
5. Many small businesses will close
6. More people and companies will
flee the stateIMPORTANT READ! PLEASE VOTE WISELY.! This will raise rents very high. Not good for anyone. Especially with the huge homeless crisis her in California.
AG Becerra got the major property tax on the ballot. Your property tax increases are on the launch pad. California politicians are try to repeal prop 13 by slipping it under the radar. California's Attorney General, Xavier Becerra is putting together plans to raise property tax revenue by eliminating the only thing keeping some people's property tax from sky rocketing, Prop 13.
Because they know it will be unpopular if presented as "Repeal Prop 13," Xavier Becerra has strategically relabeled it "Education and Local Government Funding." It's already on the 2020 ballot and like the gasoline tax, it will be worded in a way that misleads California voters. People renting may see it as a way to get something for nothing, but the long term result will be higher rents to pay due to the increase in property taxes.
People are leaving the state in record numbers, and many here are barely hanging on, this could be something that changes the face of California forever.
All my California friends and family, please COPY and REPOST as this must be defeated.
California’s surplus is how much?
From the Orange County Register July 29,2019
If one includes reserves from special funds and adds them to the generally accepted figure of the surplus, the answer is stunning. General fund reserves exceed $20 billion and special fund reserves exceed $16 billion. In short, California is sitting on over $36 billion. This doesn’t even include the billions kept in reserve by local governments.
How much more do they need?
Squeeze just a bit more from the population.
Vote No More Taxes!!
