California Prop 19 explained: Property Tax Transfers

ABC10's Brandon Rittiman takes a closer look at California Proposition 19, Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment
California Prop 19 explained: Property Tax Transfers
Subscribe at: goo.gl/vai8Eu
Find ABC10 online: www.abc10.com/
Sign up for our newsletter: www.abc10.com/...
Stream ABC10 on Roku: channelstore.r...
Stream ABC10 on Amazon Fire: www.amazon.com...
Stream ABC10 on AppleTV: itunes.apple.c...
Like ABC10 on Facebook: / abc10tv
Like ABC10 on Instagram: / abc10tv
Follow ABC10 on Twitter: / abc10
App download Android: play.google.co...
App download iPhone: apps.apple.com...

[@plan9203]

Sorry California, you need to start figuring out how to fund your programs with the insanely high taxes you already collect. California's coffers should be bursting with cash, but no matter how much money they take, they always need more. The government needs to start realizing that the issue isn't with the amount of funds collected, but rather how wasteful and irresponsible our it is with public moneys.

[@ToReall]

💯

[@jackiejake6145]

I remember reading a post where someone said when are we gonna realize that our taxes never get increased for the benefit of citizens. While this statement may differ from where ever you are on the planet, in cases like California, the money of the people is being used recklessly and it's draining our spirits. This place has become so stressful to live in, regardless of your political background

[@everettduncan7543]

Maybe they need to raise property taxes on high priced properties

[@jasonharris951]

Pelosi will then donate the money to an art school. Our mayor took the law enforcement money and invested it in the market. Politicians suck.

[@jasonharris951]

Socialism

[@keleko_]

Is there anything the government can do without raising or including new taxes?

[@keleko_]

They always bait you with the emotional pitch. Always say no to new taxes.

[@Someonesaidthis]

Any prop about taxes

[@puts1421]

thank you for explaining this in detail with full clarity. Every video i have watched until now are very misleading. appreciate ya man.

[@julissamaldonado5151]

I couldn't agree more

[@loukaleenyang]

I watched this video a few days ago and voted no based on this explanation. Today, I get a text from Newsom campaign and it’s not even talking about the same thing! 🤦‍♀️

[@puts1421]

@ don't tell me what to do bro....

[@TyShep06]

Yeah this is pretty misleading

@@TyShep06 MISLEADING HOW

[@mchamber366]

So old people benefit because they can move into a new home and keep there current tax rate but young people getting their parents home are going to have pay more taxes when they receive it why can't they rewrite to help everyone is that too hard to ask

[@rongav1997]

That's why I'm super stuck on this lol I really want to help out and encourage people to buy real estate but at the same time I'm not trying to get a tax increase limited by the fact that I can't move when I inherit my parents' house. It's selfish but idk

[@mchamber366]

@@rongav1997 I know it's like you are going to screw someone over here no matter what you do

[@kohort1]

young people who live in the house that they inherit basically pay the same property tax. If the child doesn't reside in that home and decides to rent it out, then the home will be reassessed for fair market tax rate. In the end, the child could simply pay the tax increase, move into the home, or sell it and go buy that Tesla home battery and car that they've always wanted. As for parents, with the current law, they already can keep the rate. However, with this law, they can go up in value and pay taxes on the difference.

[@lizg4698]

I'm stuck on this vote too :( ballot information is misleading so I'm glad I hopped on here and saw the truth behind it.

[@mchamber366]

@Burt Gummer it's called paying taxes and I'm willing to pay more for things Bernie is trying to do BUT not for Trumps wall he can shove it

[@lanielannister]

Why is the wildfire portion attached to this?? They should only be separate from each other and the wildfire portion seems like the only reason most people in California would consider this, aside from the ones who already have a home from a family member.

[@vickialbanese2835]

They are purposely burning down California if you go to the websites that show pictures of the burned out places, you’ll find( oddly) that homes are destroyed or disintegrated and the trees are still there around the homes. Isn’t that strange. Also the the fire places and stoves or refrigerators that would normally be there are gone. These people in Paridise California lost their homes and lives. Because they made sure the roads out were burning. Over 1,000 people are still missing. Isn’t is odd you don’t hear about this on main stream media? People please research everything these days. The fires. The chem trails. The agenda to depopulate the world. Go to stopthecrime.net. You know the lady who host this web site just recently died. She had inside informants in the government and world wide. She was only in her 50’s. I believe that she was murdered because she was finding out stuff our government doesn’t want you to know. If I ever come up missing or dead. It’s no accident okay.

[@timperry7277]

I'm a little confused. When he says under Prop 19, "You can move your lower tax rate to a pricier home and only pay the difference." What does it mean to "only pay the difference." I thought you took the lower tax rate with you. Someone explain please. Thank you

[@rachelbhughes]

Check out my explanation kzbin.info/www/bejne/parYeKd3gMaSiNE

[@timperry7277]

@@rachelbhughes You didn't answer my question either. "........only pay the difference." The difference in what? Did you listen to his video and hear when he said this and what it was relating to?

[@andrewnwokocha]

California fires haven’t decreased at all as were still being taxed to the roof. Why would we want to pay more money into a system just to makeup for their irresponsibility

because its a policy game ......just like lotto said they would give money to schools years ago - if its not in details you can read them its a fake proposition

[@sakn415]

You are only paying more for whatever properties you have inherited that you aren't living in (Ex plazas vacation homes multiple houses)

[@fullwisewords]

I mean it’s helping people impacted by the fires right? It wasn’t their fault, so let’s help em out. That’s how I see it.

[@fealee31]

@@fullwisewords only some of the money goes to fire protection and the rest to the government... you have to be clear about WHO you THINK you’re helping out vs WHO you’re REALLY helping out

[@lakings505]

The only house that goes in flames are rich people living in the hills that are to cheap to get insurance

[@kchachalove]

On one hand this is great for survivors of wildfire who have to move. For that reason I respect the prop. On the other hand there's an entirely different piece to this, and that affects children who are lucky enough to inherit a property. Seems like this measure should be split into two. What's strange to me is how there's a tax hike on properties that would not be owner-occupied, forcing a child who most likely doesn't have a great amount of savings to perform a 1031-exchange in order to avoid capital gains tax. If they don't have a savings then they can't afford to buy a new property under1031 and their family suffers a loss of wealth by tens if not hundreds of thousands of dollars. Who's really winning with this prop? Why should there be a tax hike on inheritance properties? This keeps millenials and gen X in the same poverty cycle that was initially created by outrageous student loans and rent costs.

[@kylegroninger1566]

Who are you? Well said! I agree wholeheartedly with what you said.

[@Sounditoutahhwet]

Very well said and agree with your first point, not sure why this isn't split into two props. Who's winning from this prop? Parents who want their kids/families to continue to reap the benefits of the wealth they've created once they are gone. Really just the rich staying rich. Question though: Why wouldn't they be able to do a 1031 exchange?

[@NotLikeUs17]

Are your parents wealthy and own large properties? I mean, did even listen to what was being said in the video?

[@Sounditoutahhwet]

@@NotLikeUs17 I sure did watch the video, a few times actually. I’m not one to benefit from a prop like this but that doesn’t mean I shouldn’t understand who this prop was meant to benefit as well as why a prop like this was introduced in the first place. I was actually agreeing with Kaila’s comment.

[@MrZZooh]

Nope. This levels the playing field somewhat for those of us who cannot inherit apartments we are not going to live in, from our parents. Most Millenials do fall into that category. I could care less for those trust fund babies. Yes on 19.

[@Highsnacks]

So wait when he says you can move the property taxes from the old house to the new house and “only pay the difference” isn’t that the same thing is just paying the increased property taxes??

[@nelsonmontijo6656]

I think he meant the difference on the cost of homes.

[@johanlozano7745]

If the difference between the assessed value and FMV is more than one million then they will pay a bit more in taxes

[@mattwest99]

The whole thing is a scam. Middle class longtime California family wealth will be wiped out. The middle class is legit under attack. Recall Gov. Newsome..he fully supported this.

[@citisamsjw5513]

Property mainly pays for politicians to stay in power and do nothing for the hard working-class & moms😶

[@abbygriffin9105]

People should not have to pay for what was given to them. Do you pay a tax on everything your parents gave you for Christmas? Or more comparably, do you have to pay a tax on hand me down clothes or special artifacts in your family's name? If a house is already paid off, should you have to give the government even more money to own it even though it is yours? Isn't there a clause in the amendment that states that you have the right to life, liberty and property? So why do you have to pay extra for property that is already yours? Also, people say that they should "tax the filthy rich" (even though it is not only the filthy rich who are affected) but where do you think that money goes? Straight into the government's pockets, otherwise the true filthy rich. This is just another poor attempt of a taxing scam and many people are falling for it. Vote no.

[@yulanluo7328]

The shortest, while clearest, and most straightforward video that explains prop 19 I've seen. No BS at all. Thanks for sharing!

[@ronniebush2898]

I couldn't disagree more. This was highly misleading. In fact this will effect a lot of people who may be having a hard time keeping their rental unit fixed up, and if they sell, it could go to an LLC or rental prices will just go up so that the property owners can cover the costs of the tax. Prop 13 was created because Californian's were being driven out due to high property taxes.

[@chelseaaguilar2525]

be selfish, your parents willbe gone and youll end up paying MORE taxes . vote NO

[@chelseaaguilar2525]

the gov should take care of fires not us.

[@O_Ciel_Phant0mhive]

It says you will be paying the same tax rate not the other way around .-. Vote yes

[@KM-oi9ks]

@@O_Ciel_Phant0mhive a YES is to raise taxes on those who inherit property. The problem is, those parents have already been taxed on that money, and the govt wants to double dip. I do not support MORE taxes for anyone in CA.

[@LoneLionLeo]

As someone who can’t afford a house because many wealthy people own too many properties already, spiking prices and preventing us from owning a property, imma vote yes.

[@KM-oi9ks]

@@LoneLionLeo vote your heart, but just because I can't afford something, which i can't, doesn't mean I want to punish someone who does have (who's parents have already paid taxes)

[@joshuathefrank]

So in other words the rich get richer. No thank you. No on Prop 19

[@danielmolina7540]

How so? It seems to me like families owning rental properties and strip malls would not be getting richer since their inherited assets would be taxed higher

[@MrZZooh]

Are you sure? You must be one of those 2 and 2 together equals 5 kind of people. This forces the trust fund babies who inherit their dead parents estate and apartments to pay more property tax if they're not going to stay in them. It's pretty fair

[@chrisp7110]

I agree. The way I see it, is that this prop will encourage people to move out, so the rich can buy up property

[@attention_shopping]

@@danielmolina7540 The two parts of the proposition are at odds -- No will help the inheriting rich however it will also hurt the rich so properly pay property tax when moving. Yes will hurt the inheriting rich however it will help the wealthy keep their low property tax and move wherever they want TWO additional times. Voting either way helps the wealthy in one form and hurts them in another -- which half of the proposition do you think is more impactful?

[@jacobperez281]

Really the rich get to move around keep their tax break ,who owns fire prone properties ?The rich ! Now think of kids of your working class families who pass their home to their children ,usually these homes are the best rent deals because the low taxes and no management cost the owners.This doesn’t include commercial properties ,Most parent to children transfers are homes valued under a million ,over 1 million the tax break didn’t apply!So this just tax hike to the working / middle class whose parents left the family home to their children! Perception and details make all difference!

[@jaymebeauty7049]

You made this so much more understandable. Thank you.

[@helenezheng7321]

Thank you for your explanation Brandon. This video helps me a ton to understand prop 19 and to explain it to my clients. Thank you!

[@rachelbhughes]

Definitely! Here's a quick one minute explanation kzbin.info/www/bejne/parYeKd3gMaSiNE

[@nickedds2907]

lol, so they're trying to bait with the sweetener and inheritance thing to increase property taxes

[@spark20]

How about working to prevent wildfires from happening? It gets worse every year and this year so far takes the cake.

[@MrZZooh]

How about not living and building in wild fire country to begin with? Hmm?

[@laloalatorre2943]

@@MrZZooh no one can predict what will happen to the house they choose to live in. Many things are taken into consideration when moving somewhere like job searching, price, and availability. It’s not that simple.

[@sorrowfulsatchel679]

the fires will only get worse unless we stop climate change.

[@abbygriffin9105]

@@MrZZooh I'm sure many people would move if they had that kind of luxury.

[@lettuceinn9515]

@@sorrowfulsatchel679 What does climate change have to do with California's fires?

[@empirestate8791]

I think any disaster relief provisions should be separate bills passed unanimously by the legislature. They shouldn't be bundled into referendums or packages with a bunch of unrelated provisions.

[@darrenhwang900]

I'm amazed by this dude change of tone when he said "hundred of millions" in last video and added ONLY A FRACTION of State budget, but in this one he just screams "HUNDRED OF MILLIONS"

[@KM-oi9ks]

Last video was "10 million" this one has an extra zero over the years. Still, I am 32 and voting NO. CA has insane amounts of taxs, and I do not support ANYMORE, no matter what. Have a good day, take care.

[@jennieredrose5819]

Wow thank you! I love how u explained it! I hope you did all the propositions like this!

[@Ninety5thTower23]

It’s a no for me, why raise a tax on something that’s inherently theirs. Even if they’re wealthy or not, it isn’t fair in my opinion.

[@Ninety5thTower23]

@Tony R I disagree, if you inherited a big ranch or property or home I wouldn’t want you to pay taxes on something that is in your family and was inherently yours. Besides why should you? Oh just because everybody else pay taxes on their property that they didn’t get passed down to them? No that’s not a valid reason to me

[@theultimateninja]

@Tony R you're assuming the rich only inherit houses.

[@theultimateninja]

@Tony R how is that fair? You're literally voting on something to make it unfair for others. That's not fairness. Also, you're assuming only rich people own houses.

[@saulpompa7979]

@@theultimateninja everyone should pay their fair share.

[@rongav1997]

@Tony R Except privileged doesn't necessarily mean rich like you said. If I inherit a million dollar house in California from my parents but I want to move to Texas where I'll be paying to live in a rental property, I shouldn't be faced with a tax hike on property that I own.

[@sumahomes-i4i]

Is it only for primary residence?

[@surjerrylee]

I hope this isn't an obvious question but does this tax base transfer only apply to primary residence homes?

[@TheSid2355]

Yes.

[@dantschosik6777]

when owners property tax is raised the owners pass this to their tenants rent . stop raising tax and maybe people's rent won't increase. protests city council members because they raise the taxes also😕

[@martykimble9999]

A positive spin on a new bad tax law. It will essentially eliminate protecion of our home owners from rapid tax increases that protect seniors who transition to retirement. It markedly increases overall taxes in a state that already over taxes its residents, The highest in the nation. I especially love the emphasis on where the money would go ie fire and education. It's the same mantra we always get when the state wants to raise taxes. And like usual, we always fall for it!

[@jamessang5027]

California doesn't need more taxes!

[@FindingTheForce]

I love that the information feels very unbiased. 👍🏻

[@ronniebush2898]

It felt very biased actually. He is saying anyone who has an apartment building is wealthy and therefore shouldn't get to extend that wealth to their family through lower property taxes. He also misses the fact that Prop 13 was created in order to keep property taxes down because people were having to leave California due to high property taxes. It's going to be interesting to see most rentals in Cali either become more expensive due to the property tax raise or owned by LLC's or even richer folks who come in to swoop it up. That's how it works. You just out priced a whole bunch of people who are millenials mostly.

[@jianhongzhou9520]

Rob, fantastic explanation, and the graphics help, too .

[@mrgiovanny]

Ladies and gentlemen of our younger generation: This is what we called back in the dayz a "double edge sword"/ something that has or can have both favorable and unfavorable consequences.

true young people are going off the three second sale only

[@xogreci]

Definitely mostly favorable though. Sounds like only the rich would really suffer, or are you trying to tell us otherwise?

[@Alpha121198]

@@xogreci The thing I’ve been getting hung up on is that the inherited properties that would go to individuals who aren’t very well off, if they received a house in a now much more expensive neighborhood that they wouldn’t be able to afford the new higher price. Potentially losing the house your family has lived in for several generations.

[@everettduncan7543]

@@xogreci Prop 19 specifically excluded higher class inheritors of property from tax increases.

[@Datacorrupter234]

This is my exact situation i am partially disabled when my parents pass i will inevitibly have to sell our house we’ve lived in for 31 years because we bought it for 400k and it is now worth almost 3 millions my 25k a year income cant afford 30k in property taxes. ill probably have to move my kids to the desert or something or just fake the my parents are still alive

[@HitsTownUSA]

BS, even if a primary residence is inherited and that child lives in that residence they are still reassess the difference over a million dollars, most properties in coastal areas exceed that value.

[@az_exit1279]

There is no sweet side regarding California property tax.

[@networth8754]

Sell your house and move out of state.

[@DeathSithe92]

but don't keep your voting habits, drop em dead at the border.

[@Obkev]

VOTE NO ON ANY TAX INCREASE

[@Misaka-gt5yj]

Including prop 15

[@theultimateninja]

Sameeee

[@MrZZooh]

Vote Yes on 19. Pay or quit should apply to those who live off their dead parents' moldy apartments' money too. Yes on 19. No on 15 for now.

[@evenunez2095]

@@Misaka-gt5yj yes on 15 !

[@evenunez2095]

@@MrZZooh yes on 15 no on 19

[@lilh953]

This year has been really telling.... time to force govt / Newsom to budget like us regular folks. Lacking $$ is not the issue, it's our govt. No on every prop that increases tax.

[@Someonesaidthis]

Rent might go up now..

[@dmvconartists1855]

Can someone from cali tell me what the bear star/California republic thing is.. I have a shirt with that logo but I dont know like.. what its all about is that like ur state flag?

[@GentiluomoStraniero]

The state earns enough taxes.....enough is enough.

[@moedark4390]

The ever popular death tax

[@lavarball4617]

If you don’t understand it I recommend you watch this video! kzbin.info/www/bejne/h3O0h3V5npKhe7s

[@joseamador255]

Rent will be more expensive if this prop passes, how does this help our affordable housing crisis? Actually, it will encourage people to sell or develop, perhaps not a bad thing

[@jacobperez281]

This basicly apply to single family home under 1 million, ( over 1 mil was exempt from that tax break) so it’s basically modest family homes that the kids keep after their parents passing that get rented out,If you are lucky to rent one of these homes usually it’s a good deal because the landlord passes some the tax savings and no management saving. To the renter ! Here in Ventura county ,You could find a 3 bedroom house for about the same as a 2 bdrd appt! Really just a realtors dream hoping all those family homes get sold more business for them.Higher taxes for just means higher rents,this does nothing to solve the housing shortage,what we need is to build more homes !makes me sick how they trick voters into voting for getting rid of prop13 protections for residential homes ,prop15 was basicly the same gimmick but for commercial protection under prop13 ,but their was a well funded opponents to explain the truth ,but prop19 just realtors spead half truths and now our kids pay taxes on money ( home) we already paid for!

[@TheK9Shepherd]

You forgot a major part of prop 19. Houses that are passed down to children CAN get a property tax increase EVEN if they live in it. There is a $1 million protection so that you don't pay property taxes on that 1st million. Example. House is taxed right now based on $500k When the parent dies, the county assesses the house at $1.75 million. Subtract that $1 million protection and your new assessed value of the house for property taxes is $750k. Still not bad. $9000 vs $21000

[@shelleycharlesworth5177]

I read that as long as one of the beneficiaries is using the property as their principal residence, the transfer would qualify for the full exclusion. Then I read that NO you can NOT leave your home to a friend . Which is it? I'm a senior - a widow-no children. My friend has lived with me for 5 years in my mortgage-free home. If I leave my home to him [via a trust] can he remain in the home and pay the same property taxes as I am paying?

[@TheK9Shepherd]

@@shelleycharlesworth5177 You can leave your house to a friend, but they won't benefit from Prop 19 They have to be a direct family member. Children or wife/husband.

[@davidcooper7339]

"Only pay the difference?" I'm referring to when you buy a more expensive home and take your original tax base with you; what would the difference be in the new tax?. I pay $2700 dollars a year. Say I move to a million dollar home after selling mine for $800,000. what would the difference be taking my $2700 dollar tax rate to the new $1 million dollar home? I appreciate your information. Thank you!

[@shawn1869]

And they voted yes on this... Who in their right mind would vote for increasing taxes in the highest taxed state in the country. U gotta be kidding me.

[@TheCorporateSerf]

There are morons who vote yes for new taxes if A) it punishes people they're jealous of, or B) it makes them feel good because they think everyone's money is going to A Good Cause and they don't know or care to read the fine print.

[@peachmari]

as soon as i realized gov. newsom and nancy pelosi's daughter were supporting this, i pretty much knew my answer ...

[@VanessaGarcia-lz8pj]

Girl thank you for this 🙏🏼

[@Slava65]

And people voted against them self🤨🤨🤨

[@khanhchanto3128]

most clear explanation

[@rager4able]

I feel like a lot more factors go in to play on a macro level...

[@TacoGuyMan]

No on 19 Keep prop 13

[@TyShep06]

This bill isn’t only aimed at the insanely wealthy. Anyone who inherits even just one property and wants to rent it out will get screwed with the new tax. VERY MISLEADING

[@rager4able]

Can you give an example of this?

[@TheTokkin]

Given the insane cost of land in California, this is pretty much a subsidy to the rich, arrogant, entitled suburban homeowners who think they don't have to pay for the infra and services provided by the government: only poor people pay taxes.

[@martykimble9999]

@@rager4able it's interesting how you doubt this could be misleading. Can you give me an example when a ballot measure was not misleading in some way?

[@johnnostrand2320]

For every millionaire the state drops, homelessness expands exponentially. A property tax hike = no more $ for the pool guy, no more $ for the yard guys, and dramatically reduced disposable income for everyday items from local stores, restaurants, and entertainment. And how will the state use it? Inflated bureaucratic costs for everything. This is how you get $10,000 toilets and $30,000 tents.

[@robertgallagher7734]

"Keeps seniors from wanting to move"? You mean seniors being forced out by rising property taxes.

[@justgivemethetruth]

Seniors are stuck in older houses they cannot leave for fear their taxes will go up, which increases property values by taking inventory off the market which would otherwise be sold and upgraded. This is no scam, it is a reasonable effort to tax people who are abusing Prop 13 by not paying taxes on rental properties or vacation homes, and also business properties should be taxed at a higher rate.

[@seanm3226]

“Even if your property value goes WAY up...” The value of one’s property should be determined by the owner, not the state. Like the value of anything one owns.

[@ChitoWorld]

Thanks . Voting no

[@ohsheet839]

Talk about synchronicity👁

[@miathapapaya]

I feel so on the fence with this one like it needs more work before its passed. It has some good points but Idk

[@LCB6370]

It's a way for the government to dip their hands in other people's Investments. Short-term loss for long-term gain. Elderly people won't live that long but when their family inherits their property they will be stuck paying higher property taxes for a much longer period of time. Sure the proposition was worded pretty to confuse people. Why wouldn't this proposition apply to every current property owner? Because we have many home owners who are young and will live a long time. No tax gain in the near future there.

[@6955beniegn]

@@LCB6370 but if the children live in the inherited property then they will enjoy the same tax rate. That's the child's choice to take advantage of same tax rate or not?

[@mattwest99]

@@6955beniegn The whole thing is a scam. Middle class longtime California family wealth will be wiped out. The middle class is legit under attack. Recall Gov. Newsome..he fully supported this.

[@6955beniegn]

​@@mattwest99 the US govt. is a scam... all the politicians are crooks, so just as my leaders in govt. are doing, im only looking out for myself, so if i inherit a property i'll be living in it for sure, not renting it out, cause rental income is taxable, and just goes back to the crooks in office

[@cedricchiu9763]

To sum it up, this bill is good for old people, bad to middle class young people (likely to inherent the parents house but don't plan to live in it)

[@theultimateninja]

Why is seniors not wanting to move a bad thing? And why would anyone want to pay higher taxes on something they inherit, or want their family to pay higher taxes on something they want to pass down?

[@Datacorrupter234]

In the long run its a method to extract more from home owners, As home values increase due to how buying a home locks in youre tax assed value. The +2% actually has led to californians paying the highest property taxes per sqft in the country its an ingenous scheme to get as much as possible from residents but make them feel like they are getting a deal at this point they are just getting greedy

[@franklandowski4439]

Lol watch rents skyrocket if this passes 😂

[@theultimateninja]

Not of they take over with rent control. smh.

[@Sounditoutahhwet]

Great point, if this prop passes, inherited rental portfolios taxes would sky rocket in turn raising the cost of rent.

[@MrZZooh]

Scare mongering. This makes a lot of sense. Rents are already bad enough, so what if they're going to get worse? Let them pay more if they're not going to live there.

[@nickka2009]

there will be many rentals that would pass to kids now and many that will pass to kids over time. landlords can't spike up the rent if other landlords keep the rent down. Its called competition. most likely scenario is that kids inheriting now sell the rentals since they can't compete with with other lower rents .

[@joel4210]

@@MrZZooh Rent will increase because me personally will not absorb the tax hike. I’ll will pass it on to the tenants.

[@dee4037]

Yes or no ?

[@elizabethbetty2662]

Just because you own a home it doesn’t mean you are a cash cow for the state. Neighborhood residents around here are already paying thousands a year to schools and infrastructure. That’s good we support schools and infrastructure but when is it enough for the state? Any more taxes and California will have no more middle class families. Florida sure looking like a better destination everyday.

[@erikrichardgregory]

Doing finances for the federal government let me ASSURE anyone reading this-the tax hike $$$ do not go into fire protection or senior protection or anything other than enriching the public self servant class (i.e., government employees).

[@kylegroninger1566]

Great video thanks!

[@evancurtis]

Big no on any taxes

[@lillianaestrada5391]

🛑 VOTE NO ON PROP 19!

[@ubaldocampos2903]

why???

[@anonymoushuman8443]

Waldo Campos it’s a tax hike on the kids and grandkids who inherit a house from their dead relatives

[@elizabethbetty2662]

The voters were TRICKED into removing the protection we had from state law when Ca prop 19 passed in November 2020. Had voters known, prop 19 would have been defeated in a landslide. Parents should be able to transfer property to their children WITHOUT triggering reassessment and a HUGE TAX INCREASE, UNAFFORDABLE TAX HIKE. Where I live I am surrounded by middle class homeowners who have spent lifetime maintaining and paying down mortgage with blood sweat and tears. Lovingly doing so to build and leave an inheritance for our children. These are not mansions. In my family’s case, and how many others, a fixer upper property purchased over 20 years ago that is an inheritance for our children. We California voters were tricked in passing proo 19. Renters will also suffer because of higher rents from landlords. Let us get this fixed! The Repeal the Death Tax initiative will RESTORE the protection that we California families had. Please sign the official Petition and tell others. Get more help at Howard Jarvis Tax Payers Association. Time is of the essence.

[@TheTokkin]

Pay your taxes like everyone else. Do you think services, infrastructure and amenities are free? Why do you think only the young and recent arrivals should pay for everything?

[@niknik5380]

No

[@kimchee94112]

This is bad, what difference if seniors get a break moving up when remaining life expectancy maybe a few years down the road. Then assessed to market value and forcing a fire sale. Living in the inherited property may not be an option for many giving up existing good employment. California will ding you every time to compensate for fiscal mismanagement.

[@BaldytheBear]

That’s really rough. They need to make these two separate. I want to vote yes. But I don’t want wealthy people who have inherited multiple rental units to pay old property tax. Sounds like a way to get out of paying their share in taxes. However, it strictens Wild fire survivors as well elderly who may not being able to move from San Diego for example to a much cheaper cost of living, like much smaller town

[@jennifermiller8698]

No on Prop 19.

[@TheMFD00M]

what a weird prop voting no

[@inigub]

VOTE NO! STOP GIVING THESE TAXES TO GAVIN!!!

[@springfieldbearpatrol2937]

So... If you have Prop13 proetections or your folks do then vote NO If not, vote YES

[@seo7111]

This is just another thinly disguised attack on our original proposition 13! The way it raises money is by increasing the tax on inherited real estate, and even though it's currently set for properties over $1 million, how long do you think it'll be before they lower that limit? Here's an a link to a video opinion by a long time real estate broker why you must vote no on this proposition 19 . . kzbin.info/www/bejne/hZKcfaBpj7l3g5o

[@birthmother420dunham9]

NAY, only helps old boomers who continue to pay taxes on their half a million dollar home as if it was the $60k they paid for in the 70s. Especially NAY for young people as it will raise taxes on inheritance immensely and that is one of the few ways left to get a home in California for us, and not have to pay for the grossly bloated home prices caused by prop 13. ( Ideally we'd just scrap prop 13 and the California gov would actually have to fix real estate issue).

[@heathercali8793]

No point in home ownership! Get a van and milk welfare

[@fourseasons2349]

Here is what is not being discussed and the critical point that every comment I have seen on Prop 19 be it a youtube or the press...yes if mom and dad die and I don't move into mom and dad's house as my property I have a tax at the new rate since I inherited the property....now here comes the easy part no one is talking about...I get mom and dad's house plus their 5 rentals...I move into none of these...Oh my god I have a problem...oh my god, no I don't....negotiate a commission with any realtor whereby you will pay no more than 3% in commission provided that they have the listing on all 6 properties...now sell mom and dad's houses. After all the critical issue is equity in the form of dollars...there is dead equity..that which is implied within the value of the house that doesn't sell and cash equity in your pocket which is that which is the proceeds upon that sale. Now there is a sales tax on the rentals thanks to Sacramento but not on the primary and as long as you do not exeed the $13 million dollar rule you do not have cap gains and cash proceeds to a beneficiary whereby income produced doesn't exceed $600 in the taxable year you do not file a 1041 under the EIN. You get a ton of cash in your hot little hand to safe, put to work, buy other property outside this god for saken state or for whatever never being hit by the new property tax increase, never being hit by capital gains and as long as you vacate the tenants you don't have income therefore no tax filing. As far as I am concerned...prop 19 is a good deal...to someone else, maybe not.

[@britneymelgar3764]

The only thing is that bank doing want to loan you money for a house if you are 50 something😏

[@johnpearceboyer]

Very well done

[@aholesubs1557]

Newsom supports it...

[@miketheyunggod2534]

Simple solution. Put your assets in a trust.

[@robmancebo2937]

as a 58 year old getting ready to move within the State, I am thrilled! Great video, now excuse me while I dance around!

[@patriciacampos6428]

very helpful, thank you so much

[@griff311]

Great, clear explanation! Thank you!

[@oscara8454]

Psst im not some trustfund brat from San Francisco yes it is.

[@Toasty-du3fl]

i'd rather not be taxed on anything i might inherit, so im voting nope

[@PetePuebla]

Let's get people to start moving out.

[@slappy0077]

Please kill this on November 3rd

[@jesika1984]

I could end up homeless if it is raised yet again. I already can barely afford it as is. Its not my fault i grew up here, its all ive ever known, that my grandpa that raised me died and wanted to assure i would have a roof over my head. Its what any loving person would do for something they want to keep safe....prop taxes now are over $2k a year and my house is falling apart. I try to keep up the best i can whole feeding my famiky, working and paying bills and still trying to struggle n save pennis just to pay that outrageous prop tax bill now. Please think of these situations when you vote. A hike could kick some of us barely hanging on as is....and then the property lands into the hands of a greedy investors/landlords that swoop in on a home ive lived in since i was 5 years old.....then what does that accomplish? Just because someone owns a home does not mean they are rich...by any means. This could push so many people barely hanging on over the edge...

[@fmolds]

2k , what a deal . We live in Mendocino County . Our prop tax is over 5k

[@Mboyyy601]

You could work at Starbucks or McDonald’s part time to afford your property tax each year lol. Don’t act like a victim. You’re lucky, entitled and I’m not sorry, but you should really get your priorities straight if you already struggle to afford to save $200 a month to pay your property tax once a year... did your grandpa sit around all day to afford that home in the first place, or did he work hard every day to afford it? What did you do to afford that home you live in? What 20% down payment did you make? How long (years) did you save your pennies just to get the chance to afford a home in California? I’m voting yes on this so that people like you who cry about getting a good deal and get things handed to them (like a house) don’t ever get to take it for granted ever again.

[@virginiafafatsoi2069]

It's "not your fault" that someone leave a house for you? What kind of logic is this? 2K a year? My rent for ONE month is more than 3K. Would you rather not having this home and have to rent? Or pay for your mortgage on your own? coz I am sure it would be way more than 2K per year..

[@jennifermiller8698]

@@fmolds 5k is a pretty good deal too.

[@invaderjay]

If you're living there it wouldn't affect you though right? Isn't this just for people who inherited their homes but aren't actually living in them? So how would this make you homeless?

[@MTBBernie]

soooooooooo.... dang.. idk what to say really... i guess im voting yes on this

[@khanhchanto3128]

i dont see why inheritors can be exempted from paying the updated tax value of the property. I think even their parents should be paying the updated tax value evaluated every X number of years, instead of tax value when they purchased the property.

[@Toasty-du3fl]

def voting no

[@miketheyunggod2534]

It was defeated.

[@MrAceMcGee]

I'm confused. So the cops knew Internal Affairs was setting them up?

[@sabrinabyrd4138]

Nope

[@suzyukla]

baby boomers will be inheriting their parents home...this isn't fair...

[@pmckernan100]

Prop 19 is something that is going to change a lot of people's ability to change their property into someone else's name as a family member. There used to be something in place that would allow the person getting the property to pay the same property tax, and know that this is changed to paying market value for the taxes on the home will change what people do with their properties.

[@Douglas-iz4de]

This law ensures that any generational wealth from real estate will end up in the hands of Wall Street.

[@randmcrinchel1459]

Pls vote no.. just keep the way it is. Changing something could be bad and we aren’t getting any younger... just saying!

[@NatureLover-uj7cb]

Another gain for these greety politicians.. heck no.. NO ON 19 for me..

[@O_Ciel_Phant0mhive]

Vote yes! Your parents won’t have to be worried about paying more for tax when they’re older plus the inheritance stays the same unless you sell the house or don’t live in it ! :) good deal !