Thursday, December 21, 2017

Prop. 13 targeted by proposed California ballot initiative

...Prop. 13 limited property taxes to 1 percent of a property’s cash value and capped increases at 2 percent per year, allowing reassessment of a property’s value and a larger increase in its owner’s tax bill only after it changes hands or new construction is completed. The incipient measure would change that for commercial property.

“Why do they need more money?” Coupal said of state officials. “To spend it on something stupid like high-speed rail?”...