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Changes to Proposition 13 Could Mean Big Costs for Governments

By Katie Orr, KQED News/The California Report

A potential expansion to California’s Proposition 13 would likely mean increased home sales and higher revenues for realtors. But there’s disagreement on how the measure could affect the state’s finances.

Proposition 13 limits annual property tax increases on California homes. Since voters passed the proposition in 1978, the law has limited taxes on any piece of property as long as it remains under the same ownership. When it changes hands, the taxed value of the property is reassessed.

Read the complete story at KQED News/The California Report.