In the view of many California residents, Proposition 13 represents a failed public policy. Although it has had the effect of keeping property taxes low, critics contend that it has resulted in higher home prices, no incentives for current homeowners to sell, and that it has exacerbated an already critical housing shortage. Because of the limitations on property taxation, revenue shortages have prompted all levels of government in California to seek new forms of taxation to replace those lost revenues.
I hope this is helpful.
May 13th, 2015
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