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C.A.R. Ballot Initiative

Posted by Taylor Thompson in Blog, News | 0 comments

C.A.R. Ballot Initiative and Your Dues

The California Association of REALTORS® (C.A.R.) is embarking on a historic effort to increase homeownership opportunities, one that we know REALTORS® can feel good about supporting. But change does not come without cost, and at the Fall CAR meetings in San Diego in October, your CAR directors voted for a $100 member dues assessment to help pay for this important effort.

You will notice this on your dues billing statement, and while we make every effort to keep your dues low, REALTORS®  from throughout California felt this was important enough to justify this assessment.

C.A.R. is going to qualify an initiative for the November 2018 ballot which will allow senior homeowners (55 years of age and older) to keep all or most of their Proposition 13 property tax savings when they move.

This is important because of seniors, who are often on a fixed income, fear they will not be able to afford a big property tax increase if they sell their existing home and buy another one, discouraging them from ever moving. As a result of this “moving penalty”, almost three-quarters of homeowners 55 and older haven’t moved since 2000. C.A.R.’s tax portability initiative will allow senior homeowners to transfer their property tax base from their current residence to a replacement residence located anywhere in California.

The measure, if approved by voters, will let thousands of seniors, currently “locked into” their homes by low property tax rates purchase a home that will better suit their needs while expanding the housing inventory for young families seeking to buy a home.

According to the California Legislative Analyst’s Office, tens of thousands additional homeownership opportunities will occur annually as a result of this effort.

To support this effort and for other advocacy and education efforts, C.A.R.’s Board of Directors approved the $100 increase to the Issues Fund Assessment for 2018. All REALTORS® will be required to pay this assessment. Members who have already paid their 2017-2018 REALTOR® dues bill in full will receive a revised dues bill with the new amount and will have to pay the assessment. Members on installment plans will also receive revised dues bills with an updated payment schedule.

There will be many opportunities for REALTORS® to be involved as well. In the coming weeks, we will be asking you to help gather signatures on petitions. This will be a great chance for you to show your clients all you are doing to promote homeownership opportunities and create tax savings for seniors. REALTORS® will also be asked to help educate their clients and the public about the benefits of the initiative, and, of course, next November we will need to get voters to the polls to win on Election Day.

For questions regarding the assessment or the initiative –
Web: https://www.car.org/advocacy/legislation/stategovernmentaffairs/portability/

Email: portability@car.org

Phone: (916) 492-5200

For information about contributing to this effort – information will be made available once a ballot measure committee is established.

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