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Propositions

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PROP
13

LIMITS ON PROPERTY TAX ASSESSMENT.
SEISMIC RETROFITTING OF EXISTING BUILDINGS.
LEGISLATIVE CONSTITUTIONAL AMENDMENT.

Official Title and Summary
Prepared by the Attorney General

LIMITS ON PROPERTY TAX ASSESSMENT. SEISMIC RETROFITTING OF EXISTING BUILDINGS. LEGISLATIVE CONSTITUTIONAL AMENDMENT.

  • Provides that construction to seismically retrofit existing buildings will not trigger reassessment of property tax value, regardless of the type of building.
  • Sets a statewide standard for the types of seismic retrofit improvements exempt from reassessment.
  • Limits the exemption from reassessment to specific components of construction or reconstruction that qualify as seismic retrofit improvements, as defined by the Legislature.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

  • Minor reduction in local property tax revenues related to the assessment of earthquake upgrades.

FINAL VOTES CAST BY THE LEGISLATURE ON SCA 4 (PROPOSITION 13)
(Resolution Chapter 115, Statutes of 2008)

Senate: Ayes 37 Noes 0
Assembly: Ayes 78 Noes 0