The California Association of REALTORS® strongly OPPOSES Assembly Bill 1771, authored by Assemblymember Chris Ward, which attacks private property rights by imposing up to a 25% tax on the gain from selling a home or other real property — diminishing freedom to move or relocate, housing supply, economic security and opportunity to grow intergenerational wealth for new homebuyers.
Assembly Bill 1771 by Assemblymember Chris Ward attacks property rights with a proposed tax on the sale of a home in the first seven years after purchase. If the home were to be sold within the first three years, the tax would impose a punitive 25% tax. This legislation would result in higher prices due to a reduced supply of homes. AB 1771 will also limit wealth-building opportunities for California’s new and more diverse population of homeowners.
We need to tell our state representatives to reject this legislation. Below are several sample social media posts you can use and share with your networks to let your friends, clients and neighbors know about the harmful impacts of AB 1771.