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A new proposition 13 is causing confusion for voters in california. How much is property tax in california. Proposition 5 changes requirements for certain property owners to transfer their tax base replacement property.
If props 14 all pass, california taxpayers would pay more than $32 billion over the next four decades to finance $16 of spending right now. 5, a statewide initiative on november 2018 ballot that would expand property tax. Sf assessor carmen chu explains why with this interesting video.
Uc hastings college of the law professor marsha cohen breaks down prop. In california, your assessed value may not reflect the market of property. Proposition 5 is about property taxes for seniors older than 55, and a tax break that could lead to $1 billion in lost revenue local government over time.
A social media post is warning those in the state of california to be careful when they head polls because may vote for repeal proposition 13. Proposition 13 is a $15 billion state bond for california public schools, community colleges and universities.