Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»Proposition 5 allows local bonds for affordable housing and public infrastructure with 55% voter approval
    Investments

    Proposition 5 allows local bonds for affordable housing and public infrastructure with 55% voter approval

    October 20, 20243 Mins Read


    A "yes" vote on Proposition 5 would lower the voting threshold for local borrowing to fund low-income housing and public infrastructure from two-thirds to 55%.

    A “yes” vote on Proposition 5 would lower the voting threshold for local borrowing to fund low-income housing and public infrastructure from two-thirds to 55%.

    Proposition 5 on the Nov. 5 general election ballot would reduce the voter threshold for passing local infrastructure bonds from two-thirds to 55%.

    The proposition aims to make it easier for local governments to fund low-income housing and general infrastructure projects by raising property taxes in their respective areas.

    Local property tax increases would depend on decisions by local governments and voters as described on the Secretary of State’s website.

    A provision in Proposition 5 would ban local governments from using money to buy single-family homes and duplexes and converting them into apartment units, this was a change to the previous proposal of the proposition to persuade the California Association of Realtors, who provided $19 million in funding against the proposition prior to the change.

    The proposition will also require all local bonds to be used only in their respective areas and only for the benefit of the cities and counties from which they come.

    Supporters of the proposition emphasize the need for low-income and affordable housing and transitioning the fiscal burden from the state level to the local level. Shifting to the local level allows for a much more community-focused environment that grants constituents the ability to vote on building infrastructure that suits their specific needs.

    The California Professional Firefighters, an organization that represents over 35,000 firefighters in political and legislative environments, supports the measure. In an email to The Oak Leaf, a representative wrote, “California’s laws and processes to finance critical public infrastructure like fire stations, emergency response vehicles, and firefighting equipment are tremendously outdated. CPF has been leading the effort to provide cities and counties the tools they need to make the investments that are needed to keep the public safe.”

    Opponents of the proposition argue that raising property taxes will financially impact taxpayers and renters, a 55% threshold may force a larger population to pay an unwanted tax, and that “infrastructure” is too broadly defined.

    The California Taxpayers Association opposes Proposition 5. CalTax, which represents both big and small businesses in California, promotes what it considers solid tax policies and government efficiency.

    “Yes – it will lead to higher rental prices,” said Peter Blocker, the Vice President of Policy at CalTax. The tax increase on California property owners could reach thousands of dollars; in response to the large tax increase, landlords may ease their newfound financial burdens by imposing higher rent rates on tenants.

    When asked if there are any under-represented points in the media, CalTax said, “Local governments, under the existing two-thirds vote threshold, do not face an insurmountable problem passing general obligation bonds. From 2012 to 2022, cities, counties, and special districts placed 75 general obligation bonds on the ballot. Voters approved 56 percent of these bonds, representing $15 billion in new taxes on property owners.”

    A “yes” vote on this proposition would lower the voting threshold for local borrowing to fund low-income housing and public infrastructure from two-thirds to 55%.

    Voting “no” on the proposition would maintain the requirement for a two-thirds approval for local borrowing to build infrastructure.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Pr Sheila Bunwaree : «L’État ne peut tout donner gratuitement»

    Investments

    Pour la juste place des femmes dans le monde de la finance

    Investments

    Hosken Consolidated Investments : Squirewood acquiert 1,1 million d’actions pour 144,1 millions de rands

    Investments

    Esta Investments de Singapour détient désormais 5,46 % du capital de Tikehau Capital

    Investments

    Franchissement de seuil statutaire par Esta Investments

    Investments

    L’intégrale de BFM Bourse du vendredi 4 juillet

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Bitcoin’s struggle amid anticipated Federal Reserve interest rate cuts: uncovering the impact on cryptocurrency market

    Commodities

    Does Kosmos Energy (NYSE:KOS) Have A Healthy Balance Sheet?

    Investments

    Jason Kelce is slimming down in retirement and embracing his TV Role and life after football

    Editors Picks

    Spotlight Group lance Spotlight Value aujourd’hui

    June 16, 2025

    Donald Trump’s US Strategic Crypto Reserve: What it is, how it helps, and its impact on cryptocurrency prices

    March 2, 2025

    15 Best Dividend Aristocrat Stocks with Over 3% Yield

    March 29, 2025

    US asks G7 to consider Russian palladium sanctions, price soars

    October 24, 2024
    What's Hot

    Tenet annonce un retard dans la publication de ses résultats financiers de fin d’année 2024

    May 1, 2025

    Gold Price Hits $3,000 As Global Trade Tensions Mount | RJR News

    March 14, 2025

    Malaysia sees record US$86 billion of approved investments in 2024

    February 24, 2025
    Our Picks

    Merchant-focused FinTech startup Sona acquired by Celero Commerce

    August 12, 2024

    The Investment App Designed To Make Investing Easy

    August 12, 2024

    rPlus Energies Secures Over $500 Million in Tax Equity Financing with RBC Community Investments for 800 MW Green River Energy Center

    June 5, 2025
    Weekly Top

    Ukraine imposes sanctions on Russian financial, cryptocurrency schemes

    July 6, 2025

    BAY Miner Announces Major Launch: Free Mobile Cloud Mining App Drives Global Expansion into Eco-Friendly Cryptocurrency

    July 6, 2025

    la station d’énergie portable qui veut tout faire, partout

    July 6, 2025
    Editor's Pick

    Relever la tête pour voir le silver lining 

    February 26, 2025

    Green Card holders may be barred from buying property in Ohio USA – Investing Abroad News

    June 3, 2025

    Indonesia eases import rules ahead of US tariff deadline

    June 29, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.