California Focus: Prop. 13 getting blamed for slowing state’s home sales ...Middle East

The election is well under way, even if results are not yet in. Meanwhile, the always controversial Proposition 13 is far from finished with absorbing criticism. The landmark 1978 property tax-cutting initiative took plenty of heat and also saw multitudes rise to its defense this fall as voters considered Proposition 5, aiming to reduce the vote needed to pass most local bond issues from the current two-thirds to just 55 percent. Prop. 13 had already been altered early in this century to allow school construction bonds to pass on 55 percent margins. That has raised property taxes considerably wherever such local bond issues passed. Meanwhile, Prop. 13 continues to stand for tax stability. Th

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Last updated : 12 Nov 2024 clock 06:16 PM

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California Focus: Prop. 13 getting blamed for slowing state’s home sales ...Middle East

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