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California’s Controversial Proposition

May 7, 2018

Thanks to Proposition 13, homeowners who bought back in the late ’70s-’90s are often sitting on impressive equity gains, and have their tax basis capped at no more than a 2% increase over the initial purchase price (plus any improvements). This is the tax structure that enabled situations such as Newport Beach’s Lido Isle, where […]

Filed Under: At A Glance, California News, Government Affairs Tagged With: C.A.R., homeowners, Legislative Analyst's Office, Prop 13, Prop 60, Prop 90, Property tax, Tax Fairness Initiative, taxpayers, unintended consequences

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