Prop. 13 targeted by proposed California ballot initiative

Forty years after Proposition 13 was approved by California voters, the issue of property-tax limits could be back on the state ballot in 2018.

A coalition of liberal groups is trying to qualify an initiative for the November ballot that would remove Prop. 13’s restrictions on reassessments and tax increases for corporate-owned property.

The backers say the initiative would keep Prop. 13’s protections for homeowners, residential renters, small businesses and farmers.

They say a projected $11 billion in new revenue from corporate property taxes would be used to provide needed funding for schools and community colleges as well as parks, libraries, health clinics, home-building, homeless services, roads and bridges.

But those promises haven’t kept low-tax advocates from slamming the would-be initiative, called the California Schools and Local Communities Funding Act of 2018. …

Click here to read the full article from the OC Register