California’s local property tax system supports an array of local services, such as K-14 education, public safety, and human services. Proposition 5, a key measure on the November 6 statewide ballot, would make significant changes to our state’s local property tax system. Prop. 5 would broadly expand special rules under which certain property owners can lower their property taxes, thereby reducing local revenues.
The Budget Center has produced a short video that highlights key points about what Prop. 5 would do and what it would mean for California and its communities. Drawing from our Issue Brief on Prop. 5, Senior Policy Analyst Jonathan Kaplan discusses how the measure’s ultimate effect would be to expand tax breaks for older, wealthier Californians at the expense of other homeowners and key public services.