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Walters: Labor’s Prop 13 overhaul is getting a makeover

Ever since Proposition 13, California’s iconic property tax limit, was passed by voters in 1978, unions and their political allies have yearned to either repeal or modify it. After years of cogitation, they gathered enough voter signatures to put their “Schools and Communities First” measure on the ballot.

It would retain Proposition 13’s tax limits on agricultural and residential properties, including rental homes and apartments, while requiring commercial properties to be upgraded to current market values for tax purposes. However, it would not change Proposition 13’s 1% tax rate limit. READ MORE

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