TAXATION. REPLACEMENT RESIDENCES. LEGISLATIVE CONSTITUTIONAL AMENDMENT. State Constitution Article XIII A, enacted as Proposition 13 in 1978, with certain exceptions, places a limitation on real property taxes equal to 1 percent of the value of its assessed value listed on the 1975-1976 tax bill. Property may be reassessed on change of ownership. This measure amends Article XIII A to permit the Legislature to allow persons over age 55, who sell their residence and buy or build another of equal or lesser value within two years in the same county, to transfer the old residence's assessed value to the new residence. Summary of Legislative Analyst's estimate of net state and local government fiscal impact: This measure has no direct state or local fiscal effect unless the Legislature passes laws implementing it. If the Legislature passes such laws, property tax revenues would be reduced. The loss of this revenue would probably amount to several million dollars per year beginning in 1987-88. Cities, counties, and special districts would bear 60 percent of this loss. The other 40 percent would affect community college and school districts. Higher state aid to community college and school districts would offset these losses. The State General Fund would bear the cost for the higher aid.
Legislative Vote Results
Assembly - Ayes, 70; Noes, 0 -- Senate - Ayes, 27; Noes, 1
Popular Vote Results
Y: 5121859; A: 77.0; N: 1528254; B: 23.0
Assembly Constitutional Amendment
Code Sections Affected
Amended Cal. Const. art. XIIIA, section 2
Dave Elder, Member of the Assembly, 57th District; Gray Davis, Member of the Assembly, 43rd District; Paul Carpenter, State Senator, 33rd District
Gary B. Wesley, Attorney at Law
Rebuttal Against Author
Viola J. Thomas, Chairperson, California State Legislative Committee, American Association of Retired Persons; Jim Keysor, Deputy County Assessor, County of Los Angeles; Henry J. Mello, State Senator, 17th District Chairman, Senate Subcommittee on Aging
Taxation. Replacement Residences. California Proposition 60 (1986).