Initiative Constitutional Amendment. Repeals limitation on ad valorem property taxes for State appropriations. Prohibits increasing present assessed valuation of improvements and tangible personal property; annually reduces tax rate thereon and exempts same from taxation in nine years, except tor regulation; existing tax rate limitations becoming inoperative proportionately as necessary to offset such reductions. Exempts from taxation $1000.00 of assessed improvements on land to occupied by owner as home. Limits tax moratoriums to improved property in one parcel and ownership having assessed valuation not exceeding $5000.00. Repeals specified Sales, Use and Private Car Taxes.
Popular Vote Results
Y: 372386; A: 16.9; N: 1836585; B: 83.1
Jackson H. Ralston; Harry Ferrell; Noah D. Alper
Mrs. James K. Lytle, President, California Congress of Parents and Teachers; Frank Y. McLaughlin, 585 Bush Street; Vincent D. Kennedy, Managing Director, California Retailers Association
TAXATION California Proposition 20 (1938).