Written by Cal-in-Sacramento fellow Alvin Chen for Capitol Weekly
Changing Proposition 13, the landmark, tax-cutting ballot initiative that California voters approved in 1978, is the goal of a constitutional amendment aimed at next year’s ballot.
The plan by two Senate Democrats – Holly Mitchell of Los Angeles and Loni Hancock of Berkeley – would allow commercial and business properties to be regularly reassessed for tax purposes, with an exemption for properties worth less than $500,000. Under current law – Proposition 13 – those properties are only reassessed when there is a change in ownership.
Mitchell and Hancock, both liberals, have a daunting task: Proposition 13 has long been popular among California voters. Continue reading