Real Estate Round-Up: Follow up to Props 5 and 10

I want to circle back around to the Nov. 6 election results for two propositions that the California Association of Realtors (CAR) was highly invested in. For the better part of this year, CAR embarked on a historic and comprehensive effort to pass Prop 5, the Property Tax Fairness Initiative, which would remove the “moving penalty” for seniors 55 and older, the disabled and victims of natural disasters, allowing them to carry their current Prop 13 protected property tax assessment level to another home of any price, anywhere in the state, any number of times.

At the same time, CAR also worked to defeat Prop 10, which would repeal the Costa Hawkins Rental Housing act and allow for the dramatic expansion of rent control.

Realtors across the state worked to gather nearly 1 million signatures to qualify Prop 5 for this years General Election ballot and helped in a grassroots campaign to improve housing opportunities for all Californians.

While the opponents were successful in stopping Prop 5 at this time, CAR’s resolve on this issue is firm. We are committed to this effort for the long haul. In fact, CAR is pursuing a revised initiative for the November 2020 ballot. The new initiative for the 2020 ballot provides for property tax base portability, reforms intergenerational transfer laws, and address the true “split roll” problem: corporations gaming the current property tax reassessment system. And most significantly, it will raise money for schools and local governments.

Additionally, CAR is planning to pursue the issue through a legislative alternative in the state Legislature to achieve its goals and reinforce our commitment to making property tax fairness a reality. Ideally, we can get the legislature to place the alternative on the March 2020 ballot so that we do not have to pursue the November 2020 initiative.

CAR is pleased that we were successful in helping to defeat Prop 10, an initiative that would have repealed protections homeowners have enjoyed for more than 20 years and worsened the housing crisis by making it more expensive and harder for renters to find affordable housing.

CAR worked more than 10 years to pass Costa Hawkins, which became law in 1995. Prop 10 would have repealed Costa Hawkins. It may ultimately take longer than a couple of years to achieve CAR’s property tax fairness goals despite our best efforts. Put simply, achieving big public policy goals takes time, but we will not be deterred.

Realtors believe that their investment of time and resources as part of grassroots efforts will benefit clients, homeownership and California. We know that when Realtors lead, California wins.

I also have an update on the trees on North Main Avenue. I’d like to thank the faithful supporters who showed up to support the original recommendation by Jackie Heyneman to root prune the existing trees and provide a root barrier and deep pipe watering to those trees.

After much discussion, the county did agree to provide two 30” x 30” box trees and do the planting. They would not agree to add a third tree. The planning group voted 9 to 1 to approve the plans as provided by the county. I opposed the plan. I will continue to fight for what I know we all value in our downtown, because Fallbrook deserves to be treated like the special place it is.

Kim Murphy can be reached at [email protected] or (760) 415-9292 or at 130 N Main Avenue, in Fallbrook. Her broker license is #01229921, and she is on the board of directors for the California Association of Realtors.