
AB 1335 Tax Hike Undermines American Dream
Owning your own home is a part of the American dream. And if you cannot own your home, having affordable rent is the next best thing but sometimes legislation is introduced with the best of intentions but has the opposite impact from what was intended. The bill AB 1335 has been introduced by Assemblywoman Adkins with the intent of providing affordable housing, however, the funding mechanism is profoundly flawed.
AB 1335 proposes a new $75 tax on certain recorded documents, of which only 20% would go directly to fund affordable housing. The current base fee to record… Read More