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Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, and to require a 2/3 majority for tax increases in the ...
The California Association of Realtors previously sponsored and financed an initiative measure known as 2018 California Proposition 5 on the November 2018 ballot that would have further expanded Proposition 13 property tax breaks for certain homeowners (primarily homeowners over age 55) by allowing them to transfer their lower property tax base ...
Following the decision in California Cannabis Coalition, to the extent a local tax increase initiative evades the constitutional two-thirds voter approval requirement for special taxes under Proposition 13 and/or Proposition 218, as a legislative remedy that tax may be reduced or repealed by the local electorate using the local initiative power ...
The California Supreme Court on Thursday took the rare step of removing a measure from the November ballot that would have made it harder to raise taxes, siding with Gov. Gavin Newsom by ruling ...
When voters approve a local general obligation bond measure in California, the bonds are paid off by property owners via ad valorem (based on assessed value) property tax increases. In some instances, the local initiative power under Proposition 218 may be used to reduce or repeal bond tax authorizations.
Consider that California's top marginal rate is a whopping 13.3 percent. When combined with a top federal rate of 37 percent, Golden State residents are approaching a Sweden-level tax rate.
The Community Climate Action grant program is funded with a quarter-cent property tax rate. The goal is to help reduce greenhouse gas emissions by 26% by 2025 and transition the county to a 100% ...
In some states, laws provide for exemptions (typically called homestead exemptions) and/or limits on the percentage increase in tax, which limit the yearly increase in property tax so that owner-occupants are not "taxed out of their homes". Generally, these exemptions and ceilings are available only to property owners who use their property as ...
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