Palo Alto Daily Post | Editorial Board, October 17, 2020
Prop. 19 — Yes. This would allow homeowners who are over 55, severely disabled or whose property has been damaged by a wildfire or other disaster to keep their lower property tax assessment if they buy a home anywhere else in the state. This will free up many mid-Peninsula homes that are owned by older homeowners who won’t move because they can’t afford the taxes on a new home elsewhere.
Eligible homeowners would also be able to use Prop. 19 to move to a more expensive home. Their property tax bill would go up but not as much as it would be for other homebuyers.
The proposition would require that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred.
Overall, this proposition should put more homes on the market locally, a step toward solving the region’s housing affordability crisis. We strongly recommend a “yes” vote on Prop. 19.