Secretary of State No.
TAXES ON DWELLINGS-RETIRED AND DISABLED OWNERS. INITIATIVE CONSTITUTIONAL AMENDMENT. Provides that property taxes to a limit of $8,000 assessed value on an owner-occupied dwelling shall be frozen as of the date the owner becomes disabled or reaches the age of 55 or over and is retired. Directs Legislature to define certain terms used in measure. Provides that the assessed value of any dwelling receiving an exemption under this section shall not be increased during period of exemption except for alterations of or improvements made to the property. Exemption is not to apply retroactively. If the proposed initiative is adopted, undefined additional financing from state sources will be required in the approximate amount of $6,000,000 in 1975-76 increasing to approximately $12,000,000 by 1978-79.
Vernon E. Brown, 1513 West Santa Barbara Avenue, Los Angeles, California 90046
Failed to Qualify
Tax Relief On Dwellings-Retired And Disabled Owners California Initiative 88 (1974).