Whether you know it or not, if you are a California voter, you have come into contact with Proposition 13. As the postwar boom of housing in California began to slow in the 1970s, property values skyrocketed, more than doubling from 1975 to 1980. Under normal circumstances, this would be a goldmine for homeowners. However, […]
Tag: property taxes
God Bless the Great State of Jefferson
California is the second-biggest state by landmass and the first largest in terms of population; with almost 40 million residents, the Golden State is home to more than 12 percent of the United States’ population. This has made the state a liberal powerhouse on the national stage and has allowed its state legislature to be […]
The “Split-Roll” Initiative: California’s New Hope for its Property Tax Loophole
Proposition 13, passed nearly 40 years ago, has been benefiting large corporations by handing them massive property tax breaks. This seemingly innocuous anti-tax legislation resulted in fundamental changes to the division of fiscal responsibility in California’s government. Now, a statewide coalition is trying to fight this through a new ballot measure. Passed in June 1978, […]