BAKERSFIELD, Calif. (KGET) — The Bakersfield Association of Realtors is celebrating a victory in stopping a tax bill from moving forward through the State Legislature.
The local group joined the California Association of Realtors to halt Assembly Bill 736, which would cap some real estate taxes at 1.5% throughout the state. If passed, the bill said it would have risked California homeownership and been costly.
According to the statewide group, members of the organization — including ones from Bakersfield — made more than 12,000 calls to lawmakers in 24 hours urging them to oppose the bill.
The association stated that the proposed bill would have incentivized local governments to raise transfer taxes on property sales.
The response to the bill “sent a clear message to lawmakers: California will not solve its affordability crisis by making homeownership more expensive,” they said in a press release.
The California Association of Realtors is “opposed AB 736 because higher transfer taxes would increase the cost of buying and selling a home at a time when affordability remains one of California’s greatest housing challenges,” said C.A.R. President Tamara Suminski. “Expanding local transfer taxes would have placed additional financial burdens on families already struggling to achieve the dream of homeownership.”
Paris Davis, who is the president of the Bakersfield Association of Realtors stated that the “swift and unified” opposition of the bill was instrumental in protecting homebuyers across the state.
“This victory shows that when realtors stand together to advocate for homebuyers, homeowners and property rights, we can make a meaningful difference for families and communities across California,” Davis stated.
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