Proposed
Initiative Enters Circulation: Exempts Certain Homeowners Aged 60
Or Older From Property Taxes. Initiative Constitutional
Amendment. Sacramento, Calif. – California
Secretary of State Shirley N. Weber, Ph.D., announced that
the proponent of a new initiative was cleared to begin
collecting petition signatures on February 5, 2026.
The
Attorney General prepares the legal title and summary that
is required to appear on initiative petitions. When the
official language is complete, the Attorney General forwards it to the
proponent(s) and to the Secretary of State, and the initiative may
be circulated for signatures. The Secretary of State then provides a
calendar of deadlines to the proponent(s) and to county elections
officials. The Attorney General’s official title and summary for the
measure is as follows: EXEMPTS CERTAIN HOMEOWNERS AGED 60 OR OLDER FROM PROPERTY TAXES. INITIATIVE CONSTITUTIONAL AMENDMENT. Reduces
local property tax revenues by exempting a principal residence
from property taxes if the homeowner, or the homeowner’s spouse:
(1) is 60 years of age or older; and (2) has occupied the home as
a principal residence for five consecutive years or has lived in
California for at least 10
years. Exemption terminates if property no longer
qualifies as a principal residence. After five years, homeowners
must certify their continued eligibility
to maintain exemption. Exemption does not apply to
voter-approved special taxes, assessments, or bonds. Summary of
estimate by Legislative Analyst and Director of Finance of fiscal
impact on state and local governments: Many
homeowners ages 60 or older would pay lower property taxes. This would
reduce revenue for local governments and schools by $12 billion to
$20 billion per year. These losses would grow over time. (25-0035.) The
Secretary of State’s tracking number for this measure
is 2012 and the Attorney General's tracking number
is 25-0035.
The
proponent of the measure, Rishi Kumar, must collect
signatures of 874,641 registered voters (eight percent
of the total votes cast for governor in the November 2022 general
election) in order for the measure to become eligible for the
ballot. The proponent has 180 days to circulate petitions for the
measure, meaning the signatures must be submitted to county
elections officials no later
than August 4, 2026. The address for
the proponent is 19404 Shubert Drive, Saratoga, CA
95070. The proponent may also be contacted at (408)
429-9222 and rishi1@gmail.com. ###
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