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View Full Version : Inevitable..............California Progs Set Their Gaze on Dismantling Prop 13




AuH20
05-14-2014, 10:34 PM
No way will they be stopped. This has been a thorn in their side for quite some time.

http://www.breitbart.com/Breitbart-California/2014/05/14/It-Begins-California-Agrees-on-Compromise-to-Change-Proposition-13


On Tuesday, legislators, business groups and tax reformers reached a compromise to change part of California's Proposition 13, the legendary restriction on property taxes passed by referendum in 1978. At the time, Prop 13 heralded the beginning of an economic turnaround for California, as well as the beginning of the nationwide "Reagan Revolution." Democrats, however, have increasingly seen it as an obstacle to their spending goals.

Zippyjuan
05-15-2014, 12:28 AM
Currently, privately owned property is not adjusted in its assessed value (limited to a maximum of two percent) unless the property changes hands. The proposed change would effect business property which changes hands and not privately owned property:

The Sacramento Bee reports that the State Assembly Revenue and Taxation Committee voted to approve a change in the way Proposition 13 treats commercial property. The new provision would allow a commercial property's value to be reassessed when 90% of that property changes ownership in a three-year period. The new amendment would not include incremental changes such as the buying and selling of stock, however.

Two thirds of the legislature will have to approve of the measure and it must be signed by the governor to take effect.

It doesn't "dismantle" Prop 13.

Czolgosz
05-15-2014, 12:34 AM
I hope it passes.