Did You Know? Nice Read!
Before Proposition 13, property tax was based on the assessed market value of your home. Proposition 13 made property taxes affordable and predictable by using purchase price as the base and capping the property tax rate at 1%. (Before Prop. 13, the statewide average property tax rate was 2.67%.) Prop. 13 also limits annual increases in the base to 2%, regardless of any changes in market value, AND makes it harder for politicians to raise other taxes, requiring a two-thirds vote instead of a simple majority.
Property taxes are owed every year as a condition of keeping what you already own.
GUESS NO MORE! 🙃
Enter the approximate current market value of your home:
https://www.hjta.org/resources/taxpayer-tools/guessing-game-tax-calculator/
Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process. The initiative was approved by California voters on June 6, 1978 by a nearly two to one margin. California's Proposition 13 caps the growth of a property's assessed value at no more than 2 percent a year unless the market value of a property falls lower.
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What to learn more?
Contact Alena Lehrer, Compass
DRE02120134
