Prop 13 Updates

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The California Proposition 13 Tax Transfer Initiative may appear on this November’s ballot.  It aims to loosen what bills like Prop 60/90 do, allowing homeowners who are 55+ to move and keep their property tax base.  Instead of being given as a one-time option in participating counties, the bill would expand the offering to more than once (not limited) and in all CA counties for properties of not only lesser/equal value, but even higher value.  Since prop 13 is in place and not going anywhere, this bill aims to unlock boomers+ from feeling they need to stay put in their family residence under threat of losing their property tax base if they’d rather downsize into a more turnkey option, making available family homes for young families who are experiencing a very limited housing stock in many areas.  The new homeowners would of course be paying the current property tax value, and hopefully adding some wealth in terms of property tax and job market participation to the local economy.  Here’s a link to the bill:

New Student Housing in Bay Area

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With high housing costs, local universities are having trouble recruiting students that can afford to live here. As a result, most schools have plans to add hundreds or thousands of new units of student housing. From UCSF to Hastings to others – here’s an article about some of the upcoming projects.

Ceily Landman

415.871.8303   [email protected]   Lic. #02024880

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