Property taxes are the major source of funding for schools and local services. Prop 5 is a costly constitutional amendment that would reduce funds for schools and local services by $1 billion per year. In exchange for that $1 billion a year, Prop 5 would provide special tax benefits to some property owners. It does nothing to help low-income seniors, or families struggling to find housing. Seniors already have the ability to keep their tax break when they downsize. Prop 5 drains California’s coffers of money that is essential to schools and communities.