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What You Need to Know From the GLAR Lets Vote Event
Thursday, Sep 24, 2020 @ 04:03 PM

The GLAR Public Policy & Public Relations committees hosted a virtual “Let’s Vote” event on Tuesday, September 22nd. This event gave a forum to GLAR-endorsed candidates to explain their positions on key issues, and GLAR members had an opportunity to ask the candidates questions. The event also clarified GLAR positions on key issues.

Here’s a recap of where GLAR stands on local and state issues:

Endorsed Candidates:

The GLAR Board of Directors has endorsed the following candidates for election in West Hollywood and Santa Monica. These candidates support and understand the issues that matter to our communities and the real estate industry.

West Hollywood:

- Larry Block

- Noemi Torres

Santa Monica:

- Robert Kronovet (Santa Monica Rent Control Commission)

Supported Candidates:

The GLAR Public Policy Committee supports the following candidates for election in Culver City and Santa Monica. They will be strong advocates on the key issues that will help build strong communities.

Culver City:

- Goran Eriksson

- Khin Khin Gyi

- Albert Vera

Santa Monica:

- Phil Brock

Key Issues:

Proposition 15: Tax on Commercial and Industrial Properties for Education and Government Funding

GLAR OPPOSES Proposition 15, as it would cause an unprecedented potential increase in commercial rents at a time when commercial rents vacancies are at some of their highest rates due to the pandemic. This measure would end up costing Californians more via increased rents as a result of landlords passing through the higher taxes to their commercial tenants.

Proposition 19: Property Tax Transfer, Exemptions and Revenue for Wildfire Agencies and Counties Amendment

GLAR SUPPORTS Proposition 19, which would allow eligible homeowners such as seniors and severely disabled Californians to transfer their Prop 13 tax base anywhere in the state up to three times in their lifetime of equal or higher value. It would require that inherited homes that are not used as principal residences (such as second homes or rentals) be reassessed at market value when transferred, and would help to ease the state’s inventory shortage by creating more of an incentive for homes to be listed. Crucially, this proposition would allow funding to be earmarked for wildfire fighting and prevention efforts.

Proposition 21: Local Rent Control Initiative

GLAR OPPOSES Proposition 21 on the grounds that it will limit the Costa Hawkins protection of vacancy decontrol limiting the ability of rental property owners to have market level rents, expands rent control to single family homes and condominiums if an owner owns more than 2 of such properties and expands local rent control to properties built since 2005. Rent control measures also have the potential to reduce the number of rental units on the market as landlords may choose to convert, sell or stop renting the unit, or defer maintenance since landlords might not be able to recoup the costs of repairs.

GLAR OPPOSES Culver City Transfer Tax Measure RE: GLAR opposes increasing the 0.45% transfer tax in Culver City. The proposed increase would roughly triple the current transfer tax rate, which is already the highest in Los Angeles County.

GLAR OPPOSES Santa Monica Transfer Tax Measure SM: Under this proposal, the City of Santa Monica would increase the one-time real estate transfer tax paid on each sale of property of $5,000,000 or more by $3.00 per $1,000.

Multiple studies have shown that transfer taxes place a higher burden on lower-income buyers or sellers who already spend a greater percentage of their income on housing, and are a volatile and unpredictable source of revenue for municipalities as they are entirely dependent on the transfer of existing properties. If you are registered to vote in Culver City or Santa Monica please consider opposing these measures!

Your REALTOR® Action Funds At Work

Efforts to support candidates, and to support or oppose legislation are possible because of the generous donations of our members to the REALTOR® Action Fund.

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