Generational Wealth & The California Death Tax | Guest: Susan Shelley | Episode 443
Susan Shelley, VP of Communications at The Howard Jarvis Taxpayer Association, joins me to talk about the on-going effort to repeal the bad policies of Proposition 19 the California voters were fooled into passing. We also discuss the challenges to getting the right information into the right hands for better informed voting in future elections and primaries.CHAPTERS:0:00 Intro1:39 Prop 19 Campaign12:56 Intergenerational Wealth Propositions21:00 Tax Consequences23:30 Can Prop 19 Still Be Repealed?24:45 No Tax Holidays From The State29:40 Why Low Voter Turnout36:50 Simplifying Voting Backfired?39:30 Social Media Is Not Real Life40:30 Your Vote Counts45:00 Personal Testimony49:25 How To Educate The Community58:10 Taxpayer Protection And Government Accountability Act
Help Fix Prop 19 - Multigenerational homes are at stake!
In 1986 Proposition 58 passed allowing inheritors to keep their parents similar yearly property tax amount.In 2020 Proposition 19 took that away We need to protect the good parts of Prop 19 and correct the parts that stole your rights.
Goals:
* To reinstate the original “Parent-Child Exclusion”
* If passed, it would allow parents to transfer a primary residence (of any value) and up to $1 million of other property (like rentals or vacation homes) to their children without a tax reassessment.
* To protect family and generational homes
* To protect seniors and disabled
* Seniors are the fasting growing group to experience homelessness
* To keep keep teachers in their districts
* Prop 19 drives teachers out of districts
* To protect Tenants and Affordable Housing
* Properties would be subject to reassessment when a landlord passes
* Increased rent for tenants to cover the reassessment
* Inheritors may need to sell to developers
* To protect small businesses
* Reassessment may be enough to close these small businesses for good
“Property held in a trust is still subject to Prop 19” - Phong La, Alameda County Assessor
Fix Prop 19! Sign the petition here.
Go to www.TheAndresSegovia.com for more information and show notes. 🎙Learn more about the Howard Jarvis Taxpayers Association at www.HJTA.orgAcross The Socials @TheAndresSegovia & Twitter/X @_AndresSegovia
https://TheAndresSegovia.com
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