A new bill proposed in the California legislature would cut back on the number of Prop. 13 property tax breaks handed down to heirs—who then live somewhere else.
"Sen. Jerry Hill (D-San Mateo) is introducing a ballot measure to require children who receive the state’s property inheritance tax break to live in their parents’ homes," reports Liam Dillon.
Dillon caused a stir in August 2018, when his investigation revealed "63% of the homes inherited under the system in Los Angeles County were used as second residences or rental properties last year, with a similar trend seen in a dozen other coastal counties."
Hill is saying the new bill would curb "abuses" of the system. It's not the only political effort looming as a threat to the current inheritance tax regime. Dillon reported in October that the California Association of Realtors is considering a similar cut to the inheritance tax to make more palatable their "broader initiative to extend property tax benefits for homeowners 55 and older and clamp down on businesses who avoid higher property taxes when they buy commercial real estate." In November, voters rejected Proposition 5, which would have enabled the first part of that equation.
FULL STORY: Proposed ballot measure would cut California's inherited property tax breaks
California’s Inheritance Tax Break Is Helping Some Much More Than Others
An inheritance tax benefit, along with Proposition 13, has resulted in lower tax rates passing down through generations and billions of dollars in lost tax revenue.
California Realtors Hope Ballot Initiative Will Put More Homes on Market
A ballot measure to enable older homeowners in California, particularly empty nesters, to downsize without losing their tax benefits granted to them by the 1978 Proposition 13, has qualified for the November ballot.
The Complex Story Behind the Failure of California's Upzoning Bill
SB 50 was often viewed as an attack on wealthy, single-family homeowners, but housing justice advocates also had issues with the legislation.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
Las Vegas Golf Course to Become Over 1,000 Units of Affordable Housing
The project is part of an initiative to build affordable housing on shuttered golf courses.
Cities and States Taking Action to Limit Rent-Setting AI
Federal prosecutors are charging a software company with using algorithms to artificially inflate rents.
BART to Raise Fares in January
The transit agency says it needs more state and federal support to meet its operating costs and avoid a growing budget gap.
Montreal Bike Share Breaks Ridership Record With 13 Million Rides
The Bixi system introduced a winter pilot project last year, leading to a rise in winter cycling.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners