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California Proposition 154, Property Tax Relief for Low-Income Renters (1992)
Proposition 154 would have enabled the California State Legislature to allow low-income renters who purchased a home or mobile home they occupied as renters to postpone the payment of increased property taxes associated with any reappraisal of their home. Prop 154 would have limited the cumulative amount of postponable taxes to 90% of the new owner's equity in the property, less the amount of taxes due for the current year.
Proposition 154 was proposed as an amendment to Section 8.5, Article XIII of the California Constitution.
Proposition 154's official ballot summary said:
- This measure authorizes the Legislature to provide for postponement of ad valorem property tax increases attributable to reappraisal of residential property on acquisition by low-income tenant-occupants as a principal place of residence.
- Provides that the total of the postponed taxes, plus the full amount of current property tax assessments shall not exceed 90 percent of owner's equity.
- Subventions to local agencies are not required to replace revenues lost by reason of property taxes postponed pursuant to this measure.
The fiscal estimate provided by the California Legislative Analyst's Office said:
- If implemented by the Legislature, this measure could result in millions of dollars of costs annually to either the state or to local government as homeowners who participate in this program postpone payment of their property taxes.
- Costs resulting from this measure eventually would be recovered as participating homeowners sell their homes.
Path to the ballot
The California State Legislature voted to put Proposition 154 on the ballot in Senate Constitutional Amendment 37 (Statutes of 1990, Resolution Chapter 155).
- June 2, 1992 Official Voter Guide
- Hastings California I&R database
- Statement of vote, California June 2, 1992 statewide elections
- Los Angeles Law Library, 1992 ballot propositions