Secretary of State No.
TAXATION: LIMITATION OF PROPERTY TAX RATE ON OWNER OCCUPIED DWELLING. INITIATIVE CONSTITUTIONAL AMENDMENT. Exempts single family dwelling and others authorized by Legislature occupied by owner from taxes for support of public schools, except for bonds, State loans, and voter approved taxes. Limits combined tax rates on such property for other purposes to $1.00 per $100 of full cash value. Legislature shall provide for subventions of State funds for loss of revenue to local agencies, payable only from certain designated State taxes and fees. Legislature shall provide system for withholding personal income taxes. Repeals existing homeowners' exemption. If this proposed initiative is adopted undefined additional financing from State sources in the approximate amount of $510,000,000 in 1971-1972, plus continuing cost amounting to $750,000,000 in 1973-1974 and increasing thereafter will be required.
Honorable Joe A. Gonsalves Assemblyman, 66Th District, Room 4158, State Capitol, Sacramento, California
Failed to Qualify
Taxation: Limitation Of Property Tax Rate On Owner Occupied Dwelling California Initiative 46 (1970).