A proposed $20 billion affordable housing bond measure for the Bay Area was pulled from the ballot after residents contested its estimated costs for taxpayers, leading to considerable controversy.
Authority officials believe the bond measure would have raised property taxes by about $19 per $100,000 in assessed value, generating approximately $670 million yearly. However, opponents claim it would cost taxpayers nearly $911 million annually.
Laura Dougherty from the Howard Jarvis Taxpayers Association expressed concern that the proposition's passage would permit an increase in property taxes not aligned with prior voter protections established by Proposition 13.
Despite the legal challenge about the ballot's wording, the label will remain, which would allow approval of housing bonds with a 55% vote, raising concerns about tax implications.
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