Prop 5 explained: Makes it easier for local governments to raise taxes, borrow money for projects

Currently, proposals that try to use taxpayer dollars to finance these kinds of projects require a two-thirds vote (66.67%). This proposal would change the threshold to 55%.

Currently, proposals that try to use taxpayer dollars to finance these kinds of projects require a two-thirds vote (66.67%). This proposal would change the threshold to 55%.

California makes it hard for cities and counties to borrow money for new projects. Most bonds need two thirds of voters support to pass. Proposition five would lower that to 55% but only for some projects. Those include affordable housing, down payment assistance and public infrastructure like hospitals, police stations and parks supporters are argue that if the majority of voters support *** bond, it should pass. However, opponents say that property owners who make up *** minority of voters are the ones most likely to have to pay for bonds through property tax increases. They say that's why bonds should only be issued with *** two thirds majority. Check out our other videos and go to KCR a.com. California makes it hard for cities and counties to borrow money for new projects. Most bonds need two thirds of voters support to pass. Proposition five would lower that to 55% but only for some projects. Those include affordable housing, down payment assistance and public infrastructure like hospitals, police stations and parks supporters are argue that if the majority of voters support *** bond, it should pass. However, opponents say that property owners who make up *** minority of voters are the ones most likely to have to pay for bonds through property tax increases. They say that's why bonds should only be issued with *** two thirds majority. Check out our other videos and go to KCR a.com.

Prop 5 explained: Makes it easier for local governments to raise taxes, borrow money for projects

Currently, proposals that try to use taxpayer dollars to finance these kinds of projects require a two-thirds vote (66.67%). This proposal would change the threshold to 55%.

Proposition 5 asks California voters to make it easier for city and county governments to raise taxes or borrow funds for housing and other public projects by lowering the voter threshold needed to pass them. Currently, proposals that try to use taxpayer dollars to finance these kinds of projects require a two-thirds vote (66.67%). This proposal would change the threshold to 55%. Leer en español. Who supports it? Several groups have formed the "Yes on 5" campaign, which includes the California Democratic Party, the California Teachers Association, Habitat for Humanity and California Professional Firefighters. "In addition to affordable housing, Prop. 5 makes it easier for local voters who choose to invest in safety repairs and improvements to bridges, roads, public transportation, water systems, and other critical public infrastructure as they see fit," the campaign said in a statement. How much money has the supportive campaign raised? According to campaign finance data as of Sept. 5, the effort has raised $2.5 million from one single donor: Mark Zuckerberg, the founder of Meta (Facebook and Instagram), through his Chan Zuckerberg Initiative LLC. Who opposes it? Opponents of the proposition include the California Taxpayers Association, the California Hispanic Chamber of Commerce, and the Women Veterans Alliance. "Prop. 5 changes the constitutional requirements that have existed for 145 years by reducing the voter approval requirements to pass bonds," the group wrote in a statement. "Prop. 5 makes it easier for cities, counties, and special districts to increase property taxes to pay for our already massive debt levels in California. Increased debt, combined with skyrocketing interest rates, means higher property taxes ultimately paid for by every Californian."How much has the opposition raised to fight it? According to campaign finance data as of Sept. 5, the opposition has raised $30 million. Top funders include the California Association of Realtors with $22 million, and the National Association of Realtors with $5 million. Realtors have recently dropped their opposition to the measure, though, and went neutral on the measure. See more coverage of top California politics stories here | Download our app | Subscribe to our morning newsletter

Leer en español.

Who supports it?

Several groups have formed the "Yes on 5" campaign, which includes the California Democratic Party, the California Teachers Association, Habitat for Humanity and California Professional Firefighters.

"In addition to affordable housing, Prop. 5 makes it easier for local voters who choose to invest in safety repairs and improvements to bridges, roads, public transportation, water systems, and other critical public infrastructure as they see fit," the campaign said in a statement.

How much money has the supportive campaign raised?

According to campaign finance data as of Sept. 5, the effort has raised $2.5 million from one single donor: Mark Zuckerberg, the founder of Meta (Facebook and Instagram), through his Chan Zuckerberg Initiative LLC.

Who opposes it?

Opponents of the proposition include the California Taxpayers Association, the California Hispanic Chamber of Commerce, and the Women Veterans Alliance.

"Prop. 5 changes the constitutional requirements that have existed for 145 years by reducing the voter approval requirements to pass bonds," the group wrote in a statement. "Prop. 5 makes it easier for cities, counties, and special districts to increase property taxes to pay for our already massive debt levels in California. Increased debt, combined with skyrocketing interest rates, means higher property taxes ultimately paid for by every Californian."

How much has the opposition raised to fight it?

According to campaign finance data as of Sept. 5, the opposition has raised $30 million. Top funders include the California Association of Realtors with $22 million, and the National Association of Realtors with $5 million. Realtors have recently dropped their opposition to the measure, though, and went neutral on the measure.

See more coverage of top California politics stories here | Download our app | Subscribe to our morning newsletter

Prop 5 explained: Makes it easier for local governments to raise taxes, borrow money for projects

Currently, proposals that try to use taxpayer dollars to finance these kinds of projects require a two-thirds vote (66.67%). This proposal would change the threshold to 55%.

Share

Share

Share

Top Picks