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