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The Effects of Tax Reform on California Prior to 1978 local governments in the state of California enjoyed own-source general revenues that were significantly higher than the national average But the passage of proposition 13 in 1978 and the subsequent passage of proposition 218 in 1997 has significantly reduced the ability of local governments to remain as fiscally independent from the state and federal government as they were prior to the initial passing of Proposition 13 It is my intention to show the history of Proposition 13 the differing opinions regarding it the laws that govern Proposition 13 and the effect that Proposition 13 has had on the ability of local governments to raise revenue In the mid 1970s the real estate market in the state of California began to boom At the current time property taxes were based on the full-assessed value of property Real estate speculation began to push the value of Californias property higher and higher The increase in assessed values of homes in California with the owner as the primary resident increased one hundred and eleven percent in just three years 1975-1978 At the same time that owner occupied residential properties were seeing gigantic increases in assessed value commercial property was increasing in assessed value at the rate of twenty six percent Another sharp contrast would be the values of renter occupied residential housing which like the commercial properties only increased moderately at the rate of thirty four percent in the period between 1975-78 The increased assessed value of owner occupied residential property during 75-78 began to shift the balance of tax burden increasingly towards the homeowner In 1975 the percentage share of property tax burden is as follows 26 property occupied by the owner 22 property occupied by renters and 53 to industrial and commercial properties In just three years we saw a dramatic increase on the property tax burden of the owner occupied residential properties The following
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