There’s California’s Prop 13, the (in)famous piece of legislation passed in 1978 that capped property taxes at 1 percent of their full cash value. And then there’s San Francisco’s very own assessor, who just started a "long-term, grass-roots campaign" to alter Prop 13’s restrictions on property taxes.

The Close the Proposition 13 Loophole committee is supposed to one day help increase the amount of cash rolling into the state’s bank account, but probably won’t do much to ease California’s fiscal hurting anytime soon.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top