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HOUSE DOCKET, NO. 2089 FILED ON: 1/17/2013 HOUSE . . . . . . . . . . . . . . . No. 2756 The Commonwealth of Massachusetts PRESENTED BY: Chris Walsh To the Honorable Senate and House of Representatives.

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Under Proposition 13, the property tax rate is fixed at 1% of assessed value plus any assessment bond approved by popular vote.

Proposition 19 (effective April 1, 2021) modified the previous provisions, and now allows eligible homeowners to transfer the taxable value of their existing primary residence to a new replacement primary residence.

Considering Black or Hispanic residents together, the estimated assessment gap is 9.7 percent. We find a 11.4 percent higher effective tax rate from tax bills and an 11.1 percent increase with observed exemptions added back. Inequality appears slightly larger in effective tax rates than in assessment ratios.

It caps the amount property taxes may increase each year. Prop 13 limits property taxes to 1% of the property's assessed value. The property's assessed value equals the property's base value (the property's value at the time of purchase), plus an inflation factor determined by California's consumer price index (CPI).

Under Proposition 13, the property tax rate is fixed at 1% of assessed value plus any assessment bond approved by popular vote.

Prop. 13 also curbed the way local governments assess property values before taxing them. Passed in 1978 by voters fearing tax hikes as home values spiked, it has since effectively frozen longtime homeowners' taxable property values.

ACTION TO CONSIDER: To avoid property tax reassessment, do not transfer real property from individuals to a legal entity unless the individuals have the same proportionate interest in the legal entity as they did in the real property.

Proposition 13, an iconic tax limitation measure passed by California voters 44 years ago, is still generating legal and political skirmishes. California's famous – or infamous – Proposition 13, passed by voters 44 years ago, sought to impose limits on state and local taxes.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232