Posted by Rex Hime at 7:44 am on May 12, 2015 Comments Off on There’s No Need to Undo Proposition 13
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In the 1970s a taxpayer revolt ensued. Homeowners, just wanting
their American dream to own a home with a bar-b-que and patio in
the backyard, were facing extreme inflation and skyrocketing
property tax bills, forcing some out of their homes. Then, in 1978,
Proposition 13 appeared on the ballot which passed with more than
64 percent of the vote and put an end to continually increasing
property taxes.
Proposition 13 set a uniform 1 percent property tax rate,
limited yearly increases in assessed value to no more than 2
percent, and established property valuation at its acquisition
price (usually the purchase price). It provided certainty and
predictability to our government, and to home and business owners,
in a time when uncertainty was all too common.
Unfortunately, some misguided groups are launching an effort to
change Proposition 13. Just last week, a campaign called Make It
Fair announced it would be pushing a “split roll” property tax in
the legislature and engaging in a public education campaign. These
groups want to dismantle Proposition 13, eliminating the
protections for business owners by regularly reassessing
non-homeowner properties. They often… Read More