California Proposition 1, Tax Implications of Repairing Environmentally Contaminated Property (1998)
Proposition 1 directed the state legislature to allow "environmentally contaminated" buildings to be repaired or replaced without an increase in the tax-assessed value of the property.
Of voters who cast a vote in this election, 1,066,261 or 12.37% did not cast a vote on Proposition 1.
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Text of measure
- Directs Legislature to allow repair or replacement of environmentally contaminated property or structures, as defined, without increasing the tax valuation of the original or replacement property.
- For tax purposes, property value is the assessed valuation for 1975-76 unless the property is reappraised upon purchase, new construction, or change in ownership. For property rendered unusable by environmental contamination, this measure allows either: transfer of the base-year valuation to a replacement property if the contaminated property is transferred; or exclusion of repair or replacement of damaged structures from the definition of "new construction."
The California Legislative Analyst's Office provided an estimate of net state and local government fiscal impact for Proposition 1. That estimate was:
- Property tax revenue losses probably less than $1 million annually in the near term to schools, counties, cities, and special districts.
- School revenue losses (about half of total) would be made up by the state.
No campaign contributions for or against Proposition 1 were reported to the Secretary of State.
Path to the ballot
Proposition 1 was voted onto the ballot by the California State Legislature via ACA 22 (Proposition 1).
|Votes in legislature to refer to ballot|