As we approach the November election, several real estate-related propositions and measures are on the ballot in Los Angeles and across California. Each of these measures could have a significant impact on property taxes, development, and housing regulations. Below is an overview of the most prominent ones, their pros and cons, and linked resources for further reading. It’s vital to understand the full language of these measures and cast an educated vote—rather than one based solely on emotions.

Proposition 13 Reassessment Amendment (Prop 13 Update)

Overview: This proposition proposes to reassess certain commercial properties at their current market value, breaking away from the long-standing protections of Proposition 13 for some commercial real estate, while leaving residential properties untouched.

Pros:

• Could increase funding for local schools, parks, and infrastructure through higher taxes on commercial properties.
  Focuses on large corporations and big businesses rather than small property owners.

Cons:

• Potential for increased rents as businesses may pass these costs onto tenants or consumers.
  Could impact small businesses that own property, depending on the implementation.

Learn More About Prop 13 Reassessment

Proposition 33 (Rent Control Expansion)
Overview: Proposition 33 would allow local governments to expand rent control policies to more types of properties, including single-family homes and buildings constructed after 1995, which are currently exempt under the Costa-Hawkins Rental Housing Act.

Pros:

• Could provide more protections for tenants by limiting rent increases, especially in areas with rapidly rising rents.
  Helps prevent displacement and homelessness for vulnerable populations.

Cons:

• May discourage property investment and development, slowing the construction of new rental housing.
  Could reduce the availability of rental units if property owners choose to sell instead of renting them under new restrictions.

Learn More About Proposition 33

Proposition 35 (Affordable Housing Bonds Initiative)
Overview: Proposition 35 would authorize the state to issue bonds for affordable housing development, specifically targeting low-income and homeless populations.

Pros:

• Directly addresses California’s affordable housing shortage by funding new projects.
  Provides housing for vulnerable populations, including homeless individuals, low-income families, and veterans.

Cons:

• Increases state debt through the issuance of bonds, which could have long-term budgetary implications.
  There are concerns about the efficiency of how funds will be allocated and used.

Learn More About Proposition 35

Measure ULA Expansion (Affordable Housing Funding Measure)

Overview: This measure builds upon the original Measure ULA, increasing funding for affordable housing through a larger transfer tax on high-value real estate transactions over $5 million.

Pros:

• Creates a dedicated funding stream for building affordable housing and homelessness prevention efforts.

Cons:

• May slow down the sale of high-value properties, affecting not only the luxury real estate market but also the commercial real estate market.
• Could discourage investment in Los Angeles if taxes on large transactions are deemed too high.

Read More on Measure ULA

SB 35 Extension (Streamlining Affordable Housing Development)
Overview: This bill seeks to extend the provisions of SB 35, which fast-tracks the approval process for affordable housing projects in cities that have not met state-mandated housing goals.

Pros:

• Encourages the construction of affordable housing by reducing red tape and streamlining approval processes.
  Helps cities meet their housing goals more efficiently.

Cons:

• Limits the input of local residents and neighborhood councils in the planning process.
  Potential overdevelopment in areas without sufficient infrastructure.

Read more on SB 35

Measure GS (Parcel Tax for School Funding)
Overview: Measure GS proposes a new parcel tax on property owners, with funds directed toward improving local school facilities, programs, and teacher salaries.

Pros:

• Provides critical funding to underfunded schools, enhancing education and community welfare.
  Affects all property owners, so the burden is spread evenly.

Cons:

• Adds to property taxes, which could strain homeowners and property investors.
  Renters might feel the pinch if landlords pass the increased costs onto tenants.

Detailed Breakdown of Measure GS

Why Your Vote Matters
Real estate measures have the power to shape the housing landscape in Los Angeles and beyond for years to come. Whether you are a homeowner, renter, or investor, the outcomes of these propositions will directly impact you. I encourage you to take the time to read each measure fully, reflect on how they align with your values, and vote based on an informed understanding, rather than on emotional appeal.

Your vote matters more than ever in shaping our housing future.

Resources for More Information:
Los Angeles County Elections

Stay informed, and let’s all work toward a better, fairer housing market for everyone.