Amends State Constitution by not requiring new appraisal of real property upon purchase or transfer between grandparents and their grandchild, subject to certain conditions. Parents of grandchild must be deceased as of date of purchase or transfer. Purchase or transfer of principal residence does not qualify if grandchild already received a principal residence through previous purchase or transfer not re requiring a new appraisal. $1,000,000 limit on purchases or transfers of real property not requiring new appraisals, includes purchases or transfers between grandparents and grandchild, as well as between parents and children. Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: Property tax revenue losses to schools, counties, cities, and special districts of about $1 million annually. School revenue losses would be made up by the state General Fund.
Legislative Vote Results
Final Votes Cast by the Legislature on ACA 17 (Proposition 193) Assembly - Ayes, 59; Noes, 18 -- Senate - Ayes, 32; Noes, 1
Popular Vote Results
Y: 3725041 ; A: 67.29; N: 1810493; B: 32.71
Assembly Constitutional Amendment
David Knowles, State Assemblyman; K. Maurice Johannessen, State Senator; Bill Hoge, State Assemblyman
Gary B. Wesley, Attorney at Law
Rebuttal Against Author
David Knowles, Assemblyman, 4th District; Bill Hoge, Assemblyman, 44th District; K. Maurice Johannessen, Senator, 4th District
Property Appraisal. Exception. Grandparent-Grandchild Transfer. California Proposition 193 (1996).