Secretary of State No.
TAXATION: PROPERTY TAX RATE. INITIATIVE CONSTITUTIONAL AMENDMENT. Legislature shall limit ad valorem tax on real and personal property to two per cent of full cash value of property after July 1, 1973, and one per cent after July 1, 1978. Legislature shall provide that after July 1, 1968, limitations may be exceeded to pay bonded indebtedness, and that after July 1, 1978, no ad valorem taxes shall be levied for school purposes except for bonded indebtedness.
Philip E. Watson, Office Of The Assessor 500 West Temple Street, Los Angeles, California 90012
Failed to Qualify
Taxation: Property Tax Rate. California Initiative 25 (1966).