Yup,. Pretty much all Prop 13. Not only cut the property tax, but made it virtually impossible to raise taxes, and, as it turns out, pass a budget, cuz they require 2/3 vote. Explains why we operated without a budget for 9 months; R's saying no to everything, and, finally, when one or 2 remembered they were Californians and not R's, went along with it, they were practically run out of the party...
The most significant portion of the act is the first paragraph, which capped real estate taxes:
“ Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties. ”
The proposition's passage resulted in a cap on property tax rates in the state, reducing them by an average of 57%. In addition to lowering property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases in all state tax rates or amounts of revenue collected, including income tax rates. It also requires two-thirds vote majority in local elections for local governments wishing to raise special taxes.
en.wikipedia.org |
