I usually try to stay away from expressing my political views here – but this is just TOO IMPORTANT!!
All CA voters…please be alert as to what Prop 25 can do to our property taxes!
Prop. 25 will reduce the required Sacramento politician’s vote to make changes to California law from the two-thirds vote requirement currently to a simple-majority.
It is, and has been for years, a long-standing fact that the Democrats” in Sacramento already have the simple-majority needed to overturn Prop. 13 should the voting requirement law change to passage by a simple-majority and it is absolutely certain they will do it.
We ALL need to warn ALL of our friends, neighbors, associates, and yes even our enemies, to:
VOTE
NO
ON
PROP. 25
on NOV. 2ND
If the guaranteed protection against HUGE R.E. property tax increases$$$ assured by Prop. 13 is lost there will be such an exodus of homeowners who will not be able to pay the monumental increase$$$ in their property tax that will have to sell. The market will then be flooded with properties and the drop in property values seen the past few of years will look like chump change.
Send this email warning to every homeowner in your address book that lives in California :
VOTE NO ON PROP. 25
A little of the history of Prop 13 – and how our taxes can be easily increased by local non-ad valorem property taxes!
Property taxes in the state of California have been the subject of controversy for as long as the state has assessed taxes. Before Proposition 13 passed in 1978, property taxes could increase dramatically from year to year based on the assessed value of the home. During the seventies, the real estate market experienced dramatic growth and we all witnessed the rapid escalation in the value of our homes. Because assessors were required to keep assessed values current, property taxes were skyrocketing at a substantial rate. However, increases in the assessed value were not made every year thus resulting in a major tax jolt for homeowners every few years. Since the passage of Proposition 13, a couple of things have happened. The property tax rate was set at a 1% cap. This means that the amount in property taxes you have to pay can only be up to 1% of the assessed value of your home. The assessed value of homes cannot exceed the 1975-76 assessed value and can increase based on the Consumer Price Index (CPI) by no more than 2% per year. If a transfer of ownership takes place or improvements are made, the property will be subject to a reassessment at the current market value. The newly assessed value will then increase on a yearly basis not to exceed 2% per year. The decrease in property taxes as a gross percentage of the assessed value of homes has forced local agencies (cities, counties, and other special districts) to find other sources of funding. These local agencies were given more authority to as a result of the passage of Proposition 13; however, the “special taxes” must be approved by two-thirds of the voters. Proposition 13 was intended to protect taxpayers from unanticipated increases in property taxes, to provide effective tax relief, and to require voter approval of tax increases.
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