Proposition 13: Difference between revisions

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-[[File:Prop.-13s-howard-jarvis.jpg|thumb|right|250px|Proposition 13 backer Howard Jarvis, 1978]] '''Proposition 13''' (officially named the '''People's Initiative to Limit Property Taxation''') was an amendment of the Constitution of California enacted in 1978, by means of voter direct&nbsp;[https://en.wikipedia.org/wiki/Initiative initiative]. It was approved by California voters on June 6, 1978.&nbsp;
+[[File:Prop.-13s-howard-jarvis.jpg|thumb|right|250px|Proposition 13 backer Howard Jarvis, 1978]] '''Proposition 13''' (officially named the '''People's Initiative to Limit Property Taxation''') was an amendment of the Constitution of California approved by voters in 1978, by means of voter direct&nbsp;[https://en.wikipedia.org/wiki/Initiative initiative]. Key provisions were:&nbsp;
+#Property tax (annual) limited to 1% of value.
+#Assessments limited to increase of 2% per year from 1975 value, unless ownership changed or substantially redeveloped.
+#2/3 majority of state legislature required to raise taxes.
+#2/3 majority in local elections to increase special (dedicated taxes).&nbsp;
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