The California Association of Realtors (C.A.R.) has been championing what it is calling, the "Property Tax Fairness Initiative." The initiative would allow those 55 and older, the disabled, and victims of natural disasters, to carry their current Proposition 13-protected property tax assessment level to another home of any price, anywhere in the state, any number of times. Currently that transfer is only allowed in 11 California counties.
C.A.R. has achieved its initial objective by gathering 1 million signatures – enough to qualify the initiative for the November 2018 General Election Ballot.
This week C.A.R.’s Board of Directors voted to proceed on a parallel route and will ask the legislature to put the measure on the ballot for March 2020. If that effort is successful, C.A.R. will not need to pursue the initiative for the November 2018 ballot.
According to the Board President, C.A.R. Directors feel that pursuing a legislative solution to place a substitute measure on the 2020 ballot allows the Board to pursue other critical priorities this November.
