Commentary

Opinion: Not Knowing This Trivia Could Cost You

Published

6 years ago

October 24, 2019

In 1978, Mohammed Ali was easily the most famous person in America, Funkadelic topped the music charts, and The Wiz was just released. That year California voters overwhelmingly passed Proposition 13, profoundly changing the economic outlook for many. Along with wondering which Funkadelic album topped the charts it’s also fair to ask what is Prop. 13 and why is it important to me?

Between 1973 and 1977, property taxes on single-family homes skyrocketed, increasing by 50-100 percent. Families, seniors, and small businesses were faced with the losing their properties because they couldn’t afford to pay their property taxes. Many families were forced from their homes and small businesses were left with no choice but to raise prices.

In 1978 voters overwhelmingly passed Prop. 13, limiting property tax increases and putting an end to the days of unpredictable property taxes. Four decades later, Prop. 13 remains the only constitutional measure that helps control rising costs in California.

For small businesses and families of color, Prop. 13 has been a vital tool. By capping general property tax increases at 2 percent, it has allowed homeowners to budget for their future. For small business owners, Prop. 13 has provided certainty with their business costs. For you and me, it has kept costs down at neighborhood stores.

Today Prop. 13 is under assault. The timing could not be worse. A recent Wall Street Journal article confirms African American homeownership is at an all-time low, falling 8.6 percent since 2004. Weakening Prop. 13 will make housing more expensive, including for those who rent, and will have a profound impact on many small business owners who rent their place of business.

Homeownership is the primary path to building wealth and upward mobility for low and moderate-income families. A 2007 survey of Consumer Finances shows nationally that principal residences constituted 54% of all household wealth for African Americans.

Millennial voters of color, many of whom aren’t old enough to remember what it was like before Prop 13’s passage, need to understand that Prop 13 protects our community’s collective mobility. Now, more than ever, we have a duty to build wealth and be the sole proprietors of it. Weakening, or doing away with Prop 13 will hurt, not help, California’s African American community.

Business leaders, social justice organizations, veterans groups and more than 2,500 others have banded together to protect Prop 13 from becoming extinct. I am proud to include myself and the California State Conference of the NAACP as among those that stand in support of Prop 13.

The stakes are too high for consumers and homeowners, renters and businesses large and small. We can certainly be excused for not knowing Funkadelic’s chart topping album title, or not having seen The Wiz. That won’t cost us anything. But not knowing about the benefits of Prop 13 or the impacts if it were to go away, is not just costly to you and me, its costly for California and our economy as a whole.

More information can be found at https://www.fightforprop13.org

Alice Huffman is the president of the California/Hawaii NAACP and is also a member of the NAACP’s National Board. She runs her own consulting firm, AC Public Affairs, Inc.

Bay Area Policy Brief re commercial property tax reform.

Alice Huffman

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Activism

Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

Published

1 week ago

March 22, 2026

Oakland Post

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Advice

Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

2 weeks ago

March 17, 2026

Oakland Post

Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC