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The Effects of Tax Reform on California

Before 1978, the local government in California benefited from its general source revenues that were much higher than the national ones. After passing proposition 13 and proposition 218 (1997), its ability to remain as fiscally independent from the federal government as it was before was reduced considerably. There are different opinions on these propositions and the laws that govern them. Pay attention to the effects of this tax reform on the ability of local authorities to raise their revenue.

In the 70s, the real estate market in this region started booming. Different property taxes were based on the full-assessed value, so there were many real estate speculations that only pushed it higher. So, the increase in it was considerable, and this is what started to shift the balance of taxes toward homeowners. Following a defeat in a homeowner’s tax relief plan, the main stage was set for a property tax reform in California. Instead of this relief, people got Howard Jarvis who was responsible for the decimation of local financing. He started his mission to unite all property owners and initiate proposition 13, which was a property relief act.

As a result, the local government was stripped of its primary funding source instead of an effective plan of decreasing people’s property tax burden. It’s true that the proponents of this proposition had their noble ideas because they wanted to expand freedom and get rid of unnecessary burdens. As it was written, this proposition would set property tax rate to 1% of the assessed value. It also limited its increased to only 2% per year. Besides, all properties could reassess their values only after being newly built or sold.

There were specific restrictions of how the local government can initiate new taxes for important public services. This proposition requires local authorities to pay for certain taxes for specific purposes. It means that the state was limited in possible ways to create and increase new taxes. In 1978, people in California voted for proposition 13.

There are many effects that it brought, but one of the most immediate results was against school-age children. Public schools in California were ranked high for their achievements. After accepting proposition 13, this ranking dropped considerably. Another prominent effect of this tax reform is that the local government required money to fund itself.

Before 1978, the local government in California benefited from its general source revenues that were much higher than the national ones. After passing proposition 13 and proposition 218 (1997), its ability to remain as fiscally independent from the federal government as it was before was reduced considerably. There are different opinions on these propositions and the laws that govern them.

Assignment ID
100005172
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CREATED ON
12 June 2017
COMPLETED ON
15 June 2017
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$50
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