Don't let them Repeal Proposition 13
There are numerous small neighborhoods surrounding downtown Los Angeles like Boyle Heights and Lincoln Heights and even on the west side that are in danger of being bought out and overrun by the housing shortage for the up-and-comers who are filling the office, hospitality and tech jobs in the high rises. My goal is to protect the families who lived in this area for decades from being pushed out. These communities are historic and generations of families have lived here.
- IMPORTANT: on a California State ballot measure: California is trying to repeal Proposition 13 by first splitting off business real estate and raising those property taxes to market rate. I’ve been a real estate broker and owner for over 30 years and this is horrible news! Example: If you have a commercial building of any size, that you use or rent out…and say you bought it for $300,000 but it is now worth $1,500,000 your taxes will go from approximately $4,000 per year to $17,500 per year.
- Beware, they are calling this the “California Schools and Local Communities funding Act of 2020.” They are making it read like an education Bill so be on the lookout.
- Go to: www.HJTA.org for more details.
- Once they’ve succeeded in ‘splitting’ off the business from Prop 13, they’re coming after homes, condos, etc. and if you are a renter this will impact you, too, because if your landlord is forced to sell, then the new owner will either tear the property down to build high-density or they’ll raise the rents.
- If this first phase passes it’s on more chip away at the middle class.
Why are they doing this to us? They say it isn't fair that people who have been living in their homes have such discounted property taxes. this however, is precisely the reason Howard Jarvis created this Bill. He knew how important it is for people to be able to budget and knowing taxes would be constant allows that. Howard Jarvis could see the future of how property prices would go up and he wanted to protect us. Prop 13 isn't for the rich investors and builders, it was intended for and has helped the middle class for decades. Why would our public servants want to do away with this one modicum of protection we have for the middle class or what's left of it in a world of big business and corrupt leaders? The answer is that our County employees have a retirement system that cannot keep up with its payoffs. People are living longer, retiring early and they get nearly 100% of their salaries in some cases plus free insurance. Who's idea was that? Not sustainable and they should have known it. But instead of changing hiring incentives and maybe pay signing bonuses and higher wages, but less eternal-payout-ad-infinitum, they just keep finding ways of taxing us.
Spread the word! Do not let them repeal Prop 13!