County Supervisors in Contra Costa County are considering a proposal on Tuesday to introduce a measure that would give people over the age of 55 a potentially significant tax break when moving into Contra Costa County.

Proposition 90 is already in place in seven California Counties including Alameda, San Mateo and Santa Clara. The way it works is that if you are over 55 and you are moving in to a County that supports Proposition 90, you can keep your existing Property Tax base. There are conditions of course. First of all, you can only do this one time, so you had better be sure you don't plan to move again. Also, the home you are moving to needs to be of equal or lesser value than your present one.

Since one of the frequently cited reasons for people staying in their present home rather than moving is the fact that they can't afford the new property taxes, it seems reasonable to think that this could stimulate the housing market, something that everybody agrees is desirable. Critics say that it will cost the county considerable income in potential lost property tax revenues but of course this is only a reality once a given home has been sold.

The reality, in my opinion, is that such a move s unlikely to be a major stimulus to our market, although undoubtedly, every little helps. On a more positive note, anything that can be done to help people nearing retirement have improved benefits should be considered a positive. It will be interesting to see if this proposal goes anywhere.