If you have lived in the Santa Barbara area since the 1970’s, you know that most of Goleta was purchased originally by engineers working at Delco, Santa Barbara Research and Applied Magnetics in their hay day. Since then, the children of these families have grown up and moved away. Now there is only one or two people living in a large family home, a home that no longer fits their needs. And… they can’t move their tax base anywhere except a few counties in the state.
The passing of Proposition 5 would allow those stuck in a home that no longer works for them to purchase a smaller home, possibly even closer to family, while retaining their low tax base. Proposition 5 allows homeowners to move anywhere in the state and take their tax base with them.
This is a a win-win-win for everyone involved. The new family gets a large home that they can use while their family is growing (and if the grandparents move closer, they might even save on day care costs too!) The seller gets to downsize and take their tax base with them anywhere in the state, not just a handful of counties. And the Tax Assessors office gets a new higher tax base on the sale of the older home. Everyone wins.