|Last night, the Associated Press reported that California voters have narrowly approved Proposition 19. Some voters may not have been aware that this measure repeals Proposition 58, the 1986 constitutional amendment that families have relied upon to protect their property from reassessment and higher taxes when it is transferred between parents and children. Prop. 19 is a billion-dollar tax increase on California families. |
The Howard Jarvis Taxpayers Association is saddened that family business properties and family homes that will not be owner-occupied within a year will be reassessed to market value when inherited. This will wipe out an important source of economic advancement for California families that work hard to provide a better life for the next generation.
If voters were unaware of this consequence of passing Proposition 19, they should contact their state representatives and urge them to restore the important protections of Proposition 58.
California residents can look up the names and contact information of their state representatives at findyourrep.legislature.ca.gov.