Introduced
by
To place before voters in the next general election a Constitutional amendment that would revise the Proposal A property tax assessment “pop up” that occurs when a parcel is sold, in which the state equalized value (market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner. Under this initiative, the size of the increase would be reduced by the factor determined by the difference between the capped taxable value and the uncapped SEV of all properties in a taxing jurisdiction.
Referred to the Committee on Tax Policy
