What is Proposition 13?
Proposition 13 is one of the most recognized propositions in California and it directly impacts property taxes on all residential and commercial property. It is currently on the ballot to be voted on this March to be amended to the new Proposition 13.
So, how does Proposition 13 affect property owners?
Before the bill was passed in 1978, the county tax assessor would reassess your property value every year, continually increasing your property tax in an escalating market. To keep taxes at a more manageable number, the state government proposed Proposition 13 which capped any property tax increase to 2% per year.
It is crucial for you to know that you are voting for a change in Proposition 13 in just a few short days. Do your research and look into what the new Proposition 13 is proposing and how it can directly affect you and your family.
Orange County has recently restructured how residents are able to vote. Click here to see what option is best for you to make your vote count this election.
If you have any questions about how this may affect you and your home, I would love to be a resource. Please feel free to give me a call or shoot me a text anytime - (949) 212-1433.