California Proposition 18, Community Redevelopment Projects (1952)
In 2011, a California political analyst wrote about Proposition 18, "When California voters approved a fairly wonky ballot measure in 1952 that sequestered all property tax growth in redevelopment districts, government financing was a much different animal than it is in 2011."
Text of measure
The ballot title was:
The official summary said:
- "Adds Section 19 to Article XIII of Constitution. Authorizes financing cost of redevelopment project from portion of revenue derived from taxes on taxable property within project. Provides that taxing agencies shall continue to receive tax revenues based on assessed value of such property at time of approval of redevelopment plan. Authorizes and validates laws permitting use of additional tax revenue, based on later increases in assessed value, for payment of bonds or other obligations of the redevelopment agency and permitting the agency to pledge such income as security for its obligations."
An analysis provided by the California Legislative Analyst's Office said:
- "This constitutional amendment declares subject to taxation all property in a community redevelopment project established under the Community Redevelopment Law (Section 33000 and following, Health and Safety Code), except that exempt from taxation by reason of public ownership.
- It would authorize the Legislature to provide for the inclusion in a redevelopment plan of a provision for the division of taxes collected on property in a project as follows: to each public agency levying taxes, an amount equal to that which would be produced on an application of the agency's tax rate to the assessed value of the property prior to the redevelopment; the excess to a special fund of the redevelopment agency to pay the interest and principal on any debts incurred by the agency in financing or refinancing the project. It would empower the Legislature to provide for the irrevocable pledging of such excess for the payment of such principal and interest.
- In addition, the measure would validate all provisions of the Community Redevelopment Law consistent with the foregoing relating to the use or pledge of taxes."
- Official State of California Voter Guide for the November 4, 1952 ballot propositions
- Hastings California I&R database