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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 ...
California's property tax law means radically different taxes are paid on similar homes. There are better ways to achieve Prop. 13's protections for low-income and older homeowners.
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 ...
The board made some updates to its position on the landmark proposition last year. Fact check: Is Proposition 13 under attack? SLO County supervisors disagree on changes
Real Property Valuation. Change in Ownership. 4 – Passed – Bail. 5 – Passed – Gift And Inheritance Taxes. Initiative Statute. 6 – Passed – Gift And Inheritance Taxes. Initiative Statute. 7 – Passed – Income Tax Indexing. Initiative statute. 8 – Passed – Criminal Justice. Initiative Statutes & Constitutional Amendment.
In California, the fluctuation of property taxes is distorted because of that 1978 measure, called Proposition 13. Because Prop 13 is based on the original purchase price of a home, one bought in ...
1978 California Proposition 13, People's Initiative to Limit Property Taxation 2010 California Proposition 13 , Seismic Retrofitting 2020 California Proposition 13 , Public Preschool, K-12, and College Health and Safety Bond Act
The California State Legislature's response to Serrano I and Serrano II was significantly constrained by the passage of Proposition 13 in 1978, which reduced property-tax revenues and imposed a 2/3-majority vote requirement for statewide tax increases. The initial property-tax-based solution was replaced by a funding scheme that relied more ...